News Corp “wrestling” with MySpace’s future

Is News Corp preparing to sell MySpace? News Corp’s digital media chief Jon Miller declined to answer the question when he was on stage at Business Insider’s Ignition conference today, but he suggested that it’s a real possibility.

MySpace recently unveiled a redesign with a focus on what Miller called “the socialization and personalization of content”, which supposedly moves it out of direct competition with Facebook. Miller said the redesign was “done pretty well” and is “about to be done very well” as MySpace continues to improve the site.

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“I think there’s something there,” he said. “Each day I’m more enthusiastic.”

Still, Miller acknowledged that the redesign needs to prove itself. In the meantime, there’s a question about whether News Corp can wait for that to happen. News Corp faces “the glare of public company reporting,” so it’s harder to continue pouring money into an unprofitable product.

Fair enough, said Business Insider co-founder Henry Blodget, but what has Miller actually decided?

“I’m wrestling with it,” Miller responded.

He also discussed News Corp’s upcoming iPad newspaper, which I covered in a separate post.