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This article was published on June 10, 2011

Kotick-led investor group to buy controlling stake in Myspace

Kotick-led investor group to buy controlling stake in Myspace
Joel Falconer
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Joel Falconer

Joel Falconer is the Features Editor at TNW. He lives on the Gold Coast, Australia with his wife and three kids and can sometimes be found g Joel Falconer is the Features Editor at TNW. He lives on the Gold Coast, Australia with his wife and three kids and can sometimes be found gaming or consulting. Follow Joel on Twitter.

Bobby Kotick, the much-reviled CEO of Activision Blizzard, is in talks on behalf of an investor group he’s involved with to buy a controlling stake in the floundering social network Myspace.

Kotick is one of the investors in this group, and his part in the purchase will be a personal one, with Activision Blizzard — the company that publishes such titles as Call of Duty and World of Warcraft — taking no part in the deal.

If the deal goes through, Kotick’s own stake will be a small one.

News Corp currently owns Myspace, having bought it for $580 million. It’s now struggling to have the site valued at even $100 million, making it affordable for a group of rich guys who clearly hate their money.