* Myspace bids expected by end of this week-source
* Bids expected from THL Partners, Criterion-source
NEW YORK, April 26 News Corp (NWSA.O) is
expected to receive bids for Myspace by the end of this week,
according to a person familiar with the matter.
Around five or more bids to buy all or part of the one-time
social networking pioneer are expected, valuing the Los
Angeles-based company at more than $100 million, according to
News of the latest planned bids and expected valuation was
first reported by Wall Street Journal on Tuesday.
Among the names expected to bid are private equity firm THL
Partners, Redscout Ventures and Criterion Capital, which owns
social networking site Bebo. Other names, including Chinese
Internet holding company Tencent (0700.HK) and Myspace
co-founder Chris De Wolfe, have also had a look at the
company's books to see if its worth a bid.
News Corp paid more than $580 million for Myspace in 2005,
beating out other media companies. Like Friendster, Myspace was
a pioneer of the social networking space between 2005 to 2007,
but it soon lost out to Facebook.
Last year News Corp relaunched the site as a social
entertainment site with a focus on music, movies and
(Reporting by Yinka Adegoke; Editing by Steve Orlofsky)