Well, this is embarrassing: News Corp. will probably sell MySpace for less than a tenth of what it paid for the social network, and for less than a third of its stated minimum bid. And, yes, big layoffs are coming.

Hulu has put itself up for sale, moving to end the grand alliance between the broadcasters who own the TV website and provide it with shows. This is really going to suck.

After six months of trying to sell itself, animated GIF emporium MySpace has exactly one potential buyer, who only wants to buy part of MySpace, and at a very steep discount. This is getting rather pathetic.

The small-town newspapers in New York's Hudson Valley that Fox News chief Roger Ailes owns with his wife Elizabeth are in a staff revolt after employees caught Ailes spying on them with News Corp. security goons.

MySpace's revenue has cratered and hope of an acquisition is distant. Time to sue the foundering social network while there's still a little money left in its checking account!

Reuters has a nice long dive of an article looking at how, exactly, MySpace ended up in the toilet after News Corp. bought it for $580 million in 2005. The best part, though, is short and sweet:

Vanquished social network MySpace will open its books to interested buyers Wednesday. The only problem is that the books look horrible and no one is interested in buying.

Rupert Murdoch and his team at News Corp., plus third-string Apple executive Eddy Cue, just unveiled the much-hyped iPad newspaper, The Daily, in New York. It's got video, big pictures, embedded Twitter, and updates that "break in" to the app.

Julian Assange says he has loads of cables on Rupert Murdoch and Murdoch's News Corporation that will be automatically released if he meets an early demise. It's nice to see that the Wikileaks founder hasn't lost his melodramatic touch.

Steve Jobs will reportedly show up at the launch of Rupert Murdoch's The Daily. With Murdoch's News Corp. sinking a reported $30 million into a product designed specifically for Jobs' iPad, it seems like the least Apple's CEO could do.

The big MySpace layoffs are reportedly happening tomorrow and 550+ employees may be affected. That's like half their users!

Well, that was fast: Barely two months after a big redesign, MySpace is planning to lay off half its staff, according to news reports. So much for the flailing social network's supposed turnaround.

Rupert Murdoch's iPad newspaper, The Daily, finally has a classy internet domain, TheDaily.com, from which to promote itself later this month. But the site's "coming soon" greeting is not so nice.

Do you have some "Generation Y" teens or pre-teens lazing about your home? Because the terminally ill old social network down by the river, MySpace, would like to show them racy videos all day in his redesigned internet van. Exciting.

It's possible Rupert Murdoch could buy Yahoo if AOL doesn't. His tech isn't cutting edge, but he does hate Google.

Gordon McLeod has been packing up his office; today is his last at the Wall Street Journal. His ejection is complicated. But some coworkers think they know what did him in: insulting Steve Jobs in Rupert Murdoch's presence.

It was looking like News Corp. might lose Wall Street Journal stars Walt Mossberg and Kara Swisher, who host a lucrative conference for the company. But the pair are staying and swimming in money. Credit a well-timed overture from AOL.

The liberal watchdogs at Media Matters have gotten Fox News to air a commercial about News Corporation — Fox News' parent company — donating $1 million to the Republican Governors Association recently. But they'll only air it once, got it?

MySpace co-president Jason Hirschhorn is reportedly out at the News Corp. subsidiary after 16 months. In the same timeframe, his ailing social network lost its founder, its CEO, an incubator — and a whole lot of traffic.

MySpace is sick, and its Slingshot Labs spinoff looks like the first appendage of the social network to be amputated. We're told Rupert Murdoch's social media lab is finally dead.