Is there any value for a company (probably not a startup, since they are still pretty expensive from that perspective) to buy MySpace as a "pick n pull" of sort

Is there any value for a company (probably not a startup, since they are still pretty expensive from that perspective) to buy MySpace as a "pick n pull" of sorts, to repackage as a new social product? I am not a software engineer, is this kind of thing feasible?