News Corp mulls MySpace deal

News Corporation, the media giant that owns a host of UK newspapers and a majority shareholding in BSkyB, is still considering a sale of its social networking site MySpace, it emerged over the weekend. CNBC business television reported yesterday that News Corp is on course to sell MySpace by mid-2011, citing sources. The Los Angeles-based company will also lay off more than half of its staff as management seeks to accelerate a turn-around for the loss-making company, the person said confirming earlier reports by All Things Digital and CNBC. A MySpace spokeswoman declined to comment.