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MySpace sells to Specific Media for $35 million

MySpace sells to Specific Media for $35 million

Social network MySpace has been sold once again.

The buyer is digital-media company Specific Media, which purchased the site from News Corp. for an undisclosed sum. As part of the deal, News Corp. will take a minority equity stake in Specific Media.

AllThingsD’s Kara Swisher, who first reported the sale earlier today, said Specific Media paid $35 million.

In a statement about the sale, Specific Media CEO Tim Vanderhook said: “Myspace is a recognized leader that has pioneered the social media space. The company has transformed the ways in which audiences discover, consume and engage with content online.”

“There are many synergies between our companies as we are both focused on enhancing digital media experiences by fueling connections with relevance and interest,” he said. “We look forward to combining our platforms to drive the next generation of digital innovation.”

Read More/Source: C|Net

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