Audio – Selling MySpace and how Murdoch snagged it
What a difference a year makes in looking at the MySpace deal.
Alan Salzman, managing partner of VantagePoint Venture Partners, told the Reuters Venture Capital Summit about negotiations to sell MySpace.com to Rupert Murdoch’s News Corp., his regrets about the price, and how an investigation by New York Attorney General Eliot Spitzer played a key role in the timing. He also talks about failed negotiations with Sumner Redstone’s Viacom.
“Anybody could have bought that company who wanted to and News Corp. wanted to more than anybody else,” he said.
VantagePoint controlled about a quarter of MySpace owner Intermix Media Inc. Intermix was bought by News Corp. for $580 million last year.