News Corp has hired tech and media investment bank Allen & Company to sell off MySpace, the WSJ reports. Allen & Co will now schedule meetings with interested buyers, of whom there are about 20, including financial firms.
We think Zynga should buy MySpace but one of the options on the table is to combine it with a social gaming firm into a new entity for a mix of cash and stock. That would be a smart way for one of the smaller social games maker to gain an edge in that hyper-competitive and hyper-profitable industry. Another possibility would be a private equity firm who can buy it for a low enough price that it can just milk it for cash until it finally dies off.
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