Call it being skeptical but the news has been heard before.

News Corp is again rumored to be on the verge of selling dethroned social networking site Myspace to cut losses in what has proven to be a bad investment.

According to The Associated Press and the Wall Street Journal, sources tell them that the company is aiming to complete a deal to sell Myspace to a yet to be named firm this week.

The AP, which cites an unnamed source which reportedly has knowledge of the deal, says that Myspace may be sold today (Wednesday) or tomorrow (Thursday).

Rupert Murdoch, who owns News Corp, was earlier reported to be gunning for at least $100 million for the Myspace sale.

However, the WSJ, a newspaper owned by News Corp, says that Myspace may be sold for significantly less than what Murdoch wants.

According to both the AP and the WSJ, the sale may mean laying off about 250 staff or half of the whole workforce of Myspace.

About Solon Harmony Dolor

A passion for technology and journalism makes this upcoming writer very interested in social media and technology news. Fresh from finishing an English and Journalism degree from the University of the Philippines Diliman, he aims to bring interesting news to our readers .