Bobby Kotick ‘considering MySpace buyout’

Activision Blizzard CEO Bobby Kotick is considering purchasing a controlling stake of the struggling social network MySpace, according to reports.

Kotick had been approached by an unknown investment group about buying News Corp’s online network, which has lost considerable ground to Facebook.

Three insiders, speaking to Reuters, say Kotick has yet to make a full commitment to the Myspace buyout.

Kotick’s involvement is personal and nothing to do with Activision at this stage, one source claimed.

Another two alleged insiders believed that Kotick’s stake in the business is likely to be small.

News Corp would not be sold in its entirety if the deal goes through, one source said.

News Corp paid $580 million for Myspace in 2005, is hoping to sell the business at about $100 million. Sources say that sale price will be difficult to achieve.