MySpace owner News Corp has rebuffed all rumors that claim of selling the ailing social network.

It refers to the article which came up in The Guardian stated that News Corp is planning to abandon the platform, and at the same time plans to trade when its $900 million advertising deal with Google expires.

Corp's digital media Chief Jonathan Miller, shrunk off listing out that company is in no mood to sell social network. On the other hand is planning to bring out an updated version of the platform in the near future.

Miller stated: "We are definitely not in any ongoing talks for a sale of MySpace."

In addition to this the company lists out that it is in talks with Yahoo, Microsoft and Google for a new advertising deal, ready for the updated release.

It is all in regard of the losing of key market share against rival platforms, MySpace has lost a number of key executives.