It goes without saying that News Corp. is familiar with the process of cancellation--it's the parent company of the network that controversially axed "Firefly" and "Arrested Development," after all.
But when it comes to getting rid of a social-networking site, things seem to be a little bit more complicated: After this week laying off nearly half the people who work at MySpace
, News Corp. seems to be in limbo over what to do about once-cool social network. Rumor has it that the Rupert Murdoch-helmed media company is shopping it to potential buyers, and at least one analyst is speculating
that if a new owner isn't found by the summer, MySpace will just be shut down entirely.
Shutting MySpace down altogether seems pretty unlikely, considering that the site does technically still have millions of users, and an extensive redesign geared toward transforming it into a pop-culture media-sharing site
may have generated a mild uptake in interest. It also would be more expensive to close up shop than to sell for even a bargain-basement price. But consider this: in the grand scheme of things, MySpace is probably better off dying a quick death now than prolonging its painful slide into irrelevance any longer.