Bobby Kotick, better known for his association with Activision Blizzard (the Chief Executive Officer), the popular online and console game publisher is among the latest ones to have approached News Corporation to acquire a controlling stake in the latter’s messily functioning social network, Myspace. Kotick, however, isn’t keen on taking up any managerial role post the acquisition. Infact, Kotick approached News Corporation as an individual investor with interests in the partial acquisition of Myspace, and not on the behalf of Activision Blizzard, as it was perceived at the outset.
Owner, News Corporation has shared their interest in retaining 20 per cent of the stakes in Myspace. The popular social networking platform though managed to gain the second slot after Facebook but has been steadily crumbling, as far its followers go. While the number of Facebook users spiraled to 700 million, that of Myspace crashed down to 77 million.
News Corporation recently appointed Allen & Co., an investment bank to supervise the strategic business options for Myspace, sometime in March, this year. News Corporation has been rumored to have valued Myspace at $100 million.
Publish date: June 13, 2011 2:08 pm| Modified date: December 18, 2013 8:00 pm