What did News Corp do with MySpace?

Today, News Corp. sold the struggling social network to an advertising targeting firm for $35 million. The Wall Street Journal reports: Specific Media will pay $35 million in stock and cash for Myspace, according to people familiar with the matter, well below the $100 million News Corp.

Why did News Corp buy MySpace?

When they bought MySpace, News Corp. leaders were sure they were investing ahead of the curve in the next great media movement: Social. And the idea was to use the platform to promote Fox’s television and other media products.

Did Justin Timberlake buy MySpace?

Timberlake, who’s featured prominently in the video, will likely play a big part of the MySpace revamp. The former ‘N Sync pop star, with a group of other investors, bought MySpace last summer from News Corp. for $35 million, mostly in stock. That was quite a difference from the $580 million that News Corp.

Is MySpace still around 2020?

Yes, Myspace still exists and it is far from dead. It still has its Myspace domain up and running. Myspace was purchased and currently owned by Time Inc. since February 2016 and numerous redesigns and relaunches have occurred since then.

Who is the owner of MySpace.com News Corp?

The News Corporation, making one of its largest bets on the Internet, announced today that it is paying $580 million in cash to acquire Intermix Media Inc., a Los Angeles-based company whose chief asset is MySpace.com, a Web site that is enjoying surging popularity with young audiences.

Who are the owners of MySpace and intermix?

News Corporation will pay $12 a share for the outstanding shares of Intermix, while Intermix simultaneously said it will buy out minority partners who currently own 47 percent of MySpace. MySpace was launched in September 2003 by entrepreneurs Chris DeWolfe, who is the company’s chief executive, and Tom Anderson, its president.

How many people are a member of MySpace?

MySpace.com is a youth-oriented music and “social networking” site that has grown to more than 16 million monthly users. Its members spend hours on the site, exploring areas devoted to personal classifieds, music, blogs, video games and chat rooms.