myspace sold again

Myspace has changed hands again.

The once go-to social media site is now in the hands of TIME Inc. TIME actually gets hold of Myspace after acquiring the early social network’s parent company, Viant.

MySpace was one of the first social-media sites founded in 2003 by Chris DeWolfe and Tom Anderson. It was sold to Rupert Murdoch’s News Corporation in 2005 for $580 million.

Later in 2011, Viant purchased it from Murdoch for $35 million.

Today, MySpace is more of an entertainment-focused site that plays music videos and songs.  The amount at which the company has been sold to TIME has not been disclosed yet.

Joseph Ripp, CEO of TIME Inc. described the acquisition as “Game changing.”

MySpace boasts of 20-50 million unique views a month and it provides marketers with access to over 1.2 billion registered users. It is this data that TIME is looking to leverage and merge with a premium content environment.

Chris Vanderhook, CEO of Viant Technologies, said in an interview that the company

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Source: Small Business Trends