The decline of Myspace - from its $580 million purchase by News Corp. 6 years ago to the recent redundancy of almost half its staff - has been as sad to watch as Facebook's rise has been remarkable. All the signs are that Myspace is continuing to decline, raising the likelihood that its ruthless bosses in the Murdoch empire will put it up for sale.

So why don't we buy it?

That's the brainwave/insane idea (delete as applicable) of Adam Noakes, an 'online marketing strategist' (so, yes, it may be a bit of a stunt) who's created Let's Buy Myspace. A 'crowd-sourcing' site inspired by My Football Club, which successfully bought a small football team recently. The idea is simple - you register for the site and pledge (not pay) a bit of money, and when Myspace is formally put up for sale the site will hopefully be able to make a proper bid. At that point, of course, you have to pay up.

Noakes reckons that people power could nurse Myspace back to health. 'With the right understanding and democratic choices on purpose and function of the network, MySpace can not only return to former glory but also prove a stable and rewarding investment for all its users,' the group says on its website.

Even though Myspace is sure to sell for a lot less than Rupert Murdoch bought it for, it's still likely to fetch $100 million or more. So how much have the group raised so far?

Er. £13,915. Long way to go, then.

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