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June 30, 2011 8:46 am

Myspace Sold for Just 35M

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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.

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