News Corporation chief operating officer Chase Carey said his company is open to a sale of the beleaguered site MySpace although they are pleased with its new direction as a social entertainment destination.



A sale or partnership are two of a number of options the company would consider for the once valuable social network site, before being usurped by Facebook.



MySpace has been the subject of recent speculation that News Corp is seeking to sell the site or seek a partnership with other digital media companies such as Yahoo! and AOL.



Carey said that a potential merger "would have been largely a pretty tough sale process".



But he refused to specify how long News Corp was willing to give MySpace to regain some of its former luster.



Earlier this month, Carey said News Corp expects MySpace to stabilise and achieve a clear path to being profitable within quarters rather than years.



"We think it can be a really interesting business. It has some real assets," Carey said on Monday during Reuters Global Media Summit.



MySpace relaunched earlier this month as a social entertainment site rather than a direct social networking rival to market leader Facebook.



"We have really overhauled the product and made it a very different experience and I think they did a very good job," Carey said.



News Corp acquired MySpace in 2005 for $US580 million. Since the acquisition, the internet site has lost ground to rival Facebook, which now ranks as the world's number one social network.

Reuters