MySpace CEO, Mike Jones in an online interview said that its parent company News Corp is planning for a sale or merger of MySpace.  Last year MySpace acquired iMeem to become the large Music sharing Social network, but it seems they could not stand aside of words largest social network Facebook.

According to reports, MySpace has already cut down its resource by 47% i.e around 500 employees where asked to leave MySpace, so that it could continue MySpace with the limited funding that they have today.  Reports also say MySpace is showing a good response after the new design changes that they had last year.

It is also in NEWS that  discussions are going on of sale or merger of MySpace. They are still a private discussion topic at News Corp, but two majors Social Network who could get into this deal and have some advantages too. Google and Facebook.

MySpace has the largest Music database and artist list and it was always the first choice for any budding star for promote his music, until Facebook Pages took on the Popularity. Facebook Page has emerged widely and people are getting used to Facebook Pages for promotion and staying in touch with their fans. Facebooks API and FBML also helped artist to customize facebook pages to their need.

Why MySpace would be a good deal for Google?

Google is looking out for a new edge in Social Network. Its own social network project Orkut and Google Buzz failed very badly in recent years. Google was rumered to come with a new social network Google Me, but it seems they are looking out for an opportunity.

Acquiring MySpace would help Google to directly get into a competition with their so called rival Facebook. MySpace has a large user base and huge music artist base. Google can combine the power of YouTube, MySpace and Orkut to make a fresh entry into Social Network.

Why Facebook should go for MySpace ?

Their is no need for Facebook to go for MySpace. It is already a leader in Social Network. But still Facebook could definitely get advantage from MySpace.

Facebook who is already Popular with Facebook Page, could use MySpace Music base and its own user base for getting into music industry. A high revenue generating market which is now lead by Apple iTunes.

Facebook can also put a full-stop to Googles ambition of  leading Social Networking space. Facebook has already made big plans for this, last year they have hired all the top engineers of Google and also announced their entry into the messaging service with FB mail. They have also spend a lot of efforts in improving their chat experience.

It would be interesting to know what would be the future of MySpace once a top Social Network. Coming days we could see a lot of news regarding this topic and what would be the best deal for MySpace to continue on.

Don’t forget to Post your views, TechGearz would be posting more updates on this event, so stay tuned 😉