Myspace still exists?
It does, and the company that owns the once-ubiquitous social network is being bought by Time Inc. to help the magazine publisher target ads.
Time Inc. did not say Thursday what it paid. The publisher of People, Sports Illustrated and Time magazines was spun off from entertainment company Time Warner in 2014. It is facing a decline in print ad dollars and posted an $881 million loss last year.
Myspace’s parent company, Viant, says it provides marketers with access to over
1.2 billion registered users. That’s the number of people who have signed in to Myspace since it was created in 2003. (Facebook has more than a billion monthly active users.)
Myspace peaked in 2008 with 76 million U.S. visitors before losing ground to Facebook. News Corp. sold it in 2011 to Justin Timberlake and digital ad company Specific Media, which was founded by brothers Tim, Chris and Russell Vanderhook for $35 million, a fraction of News Corp.’s $580 million purchase.
