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Rumor: MySpace Seeks to Sell China Subsidiary

Xinmin, 1/10/11

MySpace has reportedly been in discussions with a number of local internet firms about selling off its Shanghai subsidiary after the Chinese New Year holidays beginning January 29, according to an industry source.

One employee of the Shanghai office, speaking on condition of anonymity, said that the staff has been reduced from 12 to 4, with the four remaining planning to leave. The company management has decided to sell the site, according to the employee, and is in talks with potential buyers.

Keywords: HR Internet MySpace SNS withdraw

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