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Do you remember when MySpace was considered the online spot where teenagers and college students should hang out and artists could get their big break? As YouTube and Facebook rose to stardom, the social networking site was slowly overshadowed by its peers. And now, MySpace seems to be hanging by a thread − literally.

After the recent layoff of 47 percent of its staff (about 500 employees), a report on January 13, 2011, reveals that News Corp, owner of MySpace, is now considering three options: a merger, spinout or sale.

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Cendrine Marrouat is a freelance writer/reviewer, blogger, published author and translator living in Canada. Official Website: http://www.cendrinemarrouat.com

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