News Corp, Vevo In Talks Regarding Control Of Myspace (NWSA)

News Corp.

has held talks with Vevo about giving the control of MySpace, but according to

, a person with the knowledge of the talks said the likelilhood of a deal being reached is slim. News Corp. tapped boutique investment bank Allen & Co to aid with the potential deal. News Corp. is discussing with Vevo the exchange of MySpace for a stake in a new venture. News Corp. also discussed if Vevo was interested in purchasing all of MySpace, but Vevo declined the offer. A valuable asset of MySpace is MySpace music, a joint venture between MySpace and music label owners Vivendi SA's Universal Music Group, Sony Music Entertainment, Warner Music Group

and EMI Music . Vevo is also a joint venture, owned by Universal Music Group, Sony Music Entertainment and Abu Dhabi Media Co. This article may include mentions of rumors, chatter, or unconfirmed information. Readers should beware that while unconfirmed information may be correlated with increased volatility in securities, price movements based on unofficial information may change quickly based on increased speculation, clarification, or release of official news.