Myspace Sold for $35 Million

All Things D is reporting that News Corp.’s Myspace days have finally come to a close. The site has been sold to Specific Media, an advertising network, for $35 million (so we were close). Mike Jones, Myspace’s outgoing CEO, made sure to mention those lay offs in an announcement about the sale:

In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce. I will assist Specific with the transition over the next two months before departing my role as Myspace CEO.

Who

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in