News Corp is considering a sale of its social networking site MySpace after its revamp, its chief operating officer Chase Carey told Reuters on Monday.
A potential merger would have been largely "a pretty tough sale process before the revamp", Carey added.
The US media conglomerate is also considering a partnership with another company as an option for the site which has suffered in the face of competition from sites such as Facebook.
While Facebook attracts 151 million visitors monthly, around 60 million people visited MySpace in October, according to online metrics firm comScore.
"...We need to deal with this with urgency," he said, while refusing to specify how much time News Corp was willing to give MySpace to get back on track.
Earlier this month, MySpace had relaunched as a social entertainment site to compete with Facebook and even announced a new partnership with the latter.
"We have really overhauled the product and made it a very different experience and I think they did a very good job," Carey added.