Vevo CEO: We’re Not Buying MySpace

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Despite reports to the contrary, Vevo is not in talks to buy MySpace from News Corp. So says the one person who ought to know: Vevo CEO Rio Caraeff.

“It’s not something I can really talk about,” Caraeff told PaidContent when asked about MySpace, “I’ve seen that reported. Our strategy is to focus on growing organically, building a global brand. We’re not in conversations to make [the MySpace purchase] happen – it’s not something that there’s any substance to.”

It Caraeff isn’t playing semantics, it’s bad news for News Corp., which has been looking to offload the site for some time now. But with the once-great social network making such a massive financial hit, it’s hardly surprising that few companies are willing to buy it.

Maybe News Corp. should just wait a bit, then turn to the sole remaining MySpace holdout who hasn’t switched to Facebook and try selling it to them.

More on TIME.com:

MySpace Music President Steps Down as Company Prepares for Possible March Sale

MySpace Sued For Releasing Info To Third Parties

Goodbye, Friendster, I Never Used You

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