MySpace founders Chris DeWolfe and Tom Anderson have asked for a sizable salary increase when their contract expires this October, reports Mashable.

The pair have asked News Corp, which owns MySpace, for a new two-year contract that would be valued at $50 million.

That breaks down to $12.5 million each per year over the course of the contract.

The pair also requested a $15 million development fund they can use to invest in other Internet companies. News Corp's figurehead, Rupert Murdoch, has reportedly come back with an offer of $15 million each over two years.