MySpace Guys Net $30M in New Deal

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Mixed Media

by Jeff Bercovici

Main

Idle Chatter: Rupert, Rush, Mallard ... Tony Snow to Keynote Magazine Conven...

Oct 18 2007 10:44AM EDT

You read it here first, though not all of it. Putting some meat on the bones of my scoop yesterday, Valleywag and Silicon Alley Insider are reporting that MySpace founders Tom Anderson and Chris DeWolfe will get $30 million, or $15 million a piece, from their new two-year deal with News Corp. ("if they hit targets," hedges Insider).

Assuming that figure's correct -- and no one has yet confirmed it on the record -- there are two ways to look at it.

On one hand, it's a lot of money -- "more than every suit at News Corp except [Roger Ailes]," as Nikki Finke puts it (presumably leaving out chairman Rupert Murdoch and president Peter Chernin, who make quite a bit more).

But it's also the same amount the company was offering them back in June, when they were looking for $50 million, plus a $15 million investment fund to play with. Did DeWolfe and Anderson win non-monetary concessions we'll find out about later? Or did they just get a reality check?

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