The London Daily News

News Corp's top digital man Jonathan Miller has called reports that MySpace is for sale ""fabrications".

Miller was forced into denying reports that his company is thinking about selling off its flagging social networking firm after rumours emerged that the media giant was trying to off load the web company at a conference in the US this week.

Speculation has been rife, which has seen its user base and traffic slump in recent years, and which is about to lose a favourable ad sales partnership with Google. News Corp bought the site for $580m in 2005

Murdoch to 'dump' MySpace

Many reckon the service will eventually be axed by Rupert Murdoch's News Corp, though obviously, if anyone would buy it, a sell off would be more attractive than a shut down. Which is possibly why the sale rumours began.

Miller didn't comment on other rumours circulating this week that MySpace's music division is now seriously considering launching a subscription-based service, to run alongside and possibly ultimately replace its ad-funded streaming music offer. According to C-Net, MySpace is now in active talks with the major labels about such a service. MySpace has previously sent out mixed messages about its subscription model ambitions in the music space.

Additional reporting by CMU Network