Saturday, September 21st | 21 Elul 5779

Subscribe
June 30, 2011 8:46 am

Myspace Sold for Just 35M

avatar by News Editor

WSJ – News Corp. sold music and entertainment website Myspace to a little-known ad-targeting firm, shedding a onetime Internet success whose steady slide had been a distraction at the media conglomerate for years.

Specific Media LLC, which emerged as a front-runner for the site only in recent days, will pay $35 million in cash and stock for the site, according to people familiar with the matter, a major comedown for a property that was acquired for $580 million just six years ago.

Read full story

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.