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Important News If You Still Remember Your MySpace Password

Ahh, the good ol' days
Ahh, the good ol' days

If you're still mackin' on MySpace, we have some bad news: Not only will the site issue massive layoffs this week, it also will probably be sold for the price of a few bacon-wrapped hot dogs.

As Gawker reported yesterday, the social media site that News Corp. paid $580 million for in 2005 is rumored to have huge layoffs coming. Now,

... there are now two potential buyers vying for the virtual shantytown, lengthening what was supposed to be a three-hour quick sale, All Things Digital said.

The bidders, a digital ad network and a private equity firm, are reportedly offering $20 million to $30 million.

This comes on the heels of News Corp.'s pronouncement a couple of months ago that they would accept no less than $100 million for the site.

You know, pride really do cometh before a fall.


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