According to the New York Times this weekend MocoSpace, a mass market mobile social networking and gaming company, has issued a statement expressing interest in purchasing the struggling social media site from News Corp. It is believed the two companies are already in talks to reach a deal.
MocoSpace has been gaining ground fast in the mobile gaming industry. It started out as a mobile web social networking tool, and has since moved into producing casual games and smartphone apps, targeting youth audience from around 14 years of age.
One analyst predicted that MocoSpace was the fourth most visited mobile online website, serving up 3 billion mobile web pages each month. It has already raised $6.5m (£4m) in venture capital.
The price that MoboSpace would be prepared to pay for MySpace has not been disclosed. News Corp paid $327m (£203m) five years ago, but considering the site’s struggle against the migration of its core audience to Facebook and Twitter, it would likely be sold for considerably less.
The move is interesting because if a deal is done, MySpace could potentially be repositioned as a mobile network for listening to music on.
News Corp told Myspace employees last month that it was considering selling the site, and has already culled half of its 1000 employees.
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