When was the last time you logged in to Myspace?

No, we can’t remember either.

It’s been well documented that Myspace is all but dead and it’s owner, News Corp. hasn’t done a great job disguising that fact.

In an effort to rid themselves of the failing site, News Corp put Myspace on the market earlier this year.

A statement made by Myspace read, “The new MySpace has been very well received by the market and we have some very encouraging metrics. But the plan to allow MySpace to reach its full potential may be best achieved under a new owner.”

Or in other words – ‘Myspace is failing, is there anyone courageous / mad enough to take it on?’

As it turns out, there is. Or at least there might be.

It’s rumoured that ‘mobile social network’ company – MocoSpace could be lining up a cut-price deal for Myspace.

MocoSpace CEO, Justin Siegel told Business Week, “They are open to discussing it with us. This may be an opportunity to acquire an asset that we have the unique skills to manage.”

Reports suggest that the deal could be worth anything in the region of $50 million to $200 million – a fraction of the $580 million that Murdoch’s News Corp. paid for the site back in 2005.

Of course, when News Corp. bought Myspace it was the dominant social network, a thriving community and a hub of musical talent. Then came Facebook.

Now all that’s left amongst the tumbleweeds and gifs are a lot of neglected pages and a handful of optimistic bands.

It’s hard to see a future for Myspace when all is considered – it just doesn’t have a ‘place’ anymore. Social networking is taken, as is music, video, blogging, micro-blogging, photo sharing, the list goes on.

Whoever does eventually take on the Myspace challenge will have to implement some serious changes, but with the right investor it might just have half a chance.

What, or who does Myspace need in order to survive? Please share your thoughts below.