Mysterious group offers to buy MySpace

There may be a buyer yet for News Corporation’s beleaguered MySpace social networking website, after a collective of anonymous online executives penned an open letter to Rupert Murdoch offering to buy the site outright.

News Corp has been forced to re-evaluate where MySpace stands in the company’s vast business portfolio, and has already cut almost half of its staff in an effort to halt the rapid losses it is making in the face of competing with Facebook.

The letter expresses “overwhelming surprise” and “sadness” that a “network containing millions of users, and one that sold to one of the world’s most powerful money men, has fallen on very tough times”, adding that “the rise of Facebook and Twitter cannot be any sort of valid excuse for a near total collapse of MySpace”.

The letter comes from Let’s Buy MySpace, which declares itself “the brainchild of an online marketing strategist in the UK”. The website is asking anyone who is interested to pledge money towards the purchase. If the deal was to go through, backers would be able to review and vote on business decisions related to the site, in a similar manner to My Football Club.

The leader of the campaign appears to be Adam Noakes, who works for digital, search, social and online agency 140 Digital. According to his Twitter, the campaign has already received “one or two” big pledges, and as of last night he claimed the total had already reached £14,000.

Could this be the answer to Murdoch’s social media headache? Would it even work? Or is this a slick ploy by Noakes to bring some attention to his company’s (recently relaunched) website?

View the full letter at Let’s Buy Myspace.

(Source: Wall Blog)

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