Thursday, February 14, 2008

Yahoo's MySpace nonsense

Rupert Murdoch wants to trade his dying MySpace for a 20% piece of YHOO. Does anyone think this has any chance in hades of happening?

Remember when Google gave Fox $900 million so they could sell ads on MySpace, and Google thought their smart algorithms would surely be able to exploit this social network site? MySpace was then valued at upwards of $20 billion. Now we have a valuation on this declining property of around $8 billion.

In Yahoo's corner you have Bill Miller of Legg Mason saying Mister Softee should pay $40 and Rupert Murdoch offering to swap MySpace for a 20% piece of Yahoo. What are they going to say next? That Blackstone's Steve Schwarzman is interested?

The only one saying "Yahooooo!" now is Ballmer and Co. who made the pre-emptive bid!

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