16:18 ET<\/span><\/span><\/p>\nNews Corporation has sold its ailing social networking site MySpace to online advertising firm Specific Media.<\/p>\n
News Corp paid $580m (\u00a3361m) for MySpace in 2005, but users and advertisers left the site for rival social sites like Facebook and Twitter.<\/p>\n
The sale terms were not disclosed, but there were unconfirmed reports that price paid was as low as $35m.<\/p>\n
Specific Media said: “We look forward to combining our platforms to drive the next generation of digital innovation.”<\/p>\n
Specific Media was founded in 1999 by three brothers – Tim, Chris and Russell Vanderhook – and is based in Irvine, California.<\/p>\n
MySpace was a leading social networking site when it was bought by Rupert Murdoch’s News Corp.<\/p>\n
But the business was eclipsed by rivals, and despite attempts to revive MySpace’s fortunes the site has been a financial millstone.<\/p>\n
News Corp’s chief operating officer Chase Carey said in November that the losses at MySpace were “unsustainable”.<\/p>\n
Although News Corp does not publish specific results for Myspace in its accounts, the “other” segment, which includes the social network, reported a second quarter operating loss of $156m – $31m worse than a year earlier.<\/p>\n
The Reuters news agency cited a News Corp-owned blogging site as reporting that MySpace was sold for $35m.<\/p>\n<\/div>\n<\/p>\n
Visit link:
\nNews Corp finally sells MySpace<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 29 June 2011 Last updated at 16:18 ET News Corporation has sold its ailing social networking site MySpace to online advertising firm Specific Media. News Corp paid $580m (\u00a3361m) for MySpace in 2005, but users and advertisers left the site for rival social sites like Facebook and Twitter. <\/p>\n","protected":false},"author":0,"featured_media":450456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-450455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\n
News Corp finally sells MySpace - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"News Corp finally sells MySpace - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"29 June 2011 Last updated at 16:18 ET News Corporation has sold its ailing social networking site MySpace to online advertising firm Specific Media. News Corp paid $580m (\u00a3361m) for MySpace in 2005, but users and advertisers left the site for rival social sites like Facebook and Twitter.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"News Corp finally sells MySpace\",\"datePublished\":\"2011-06-29T20:18:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\"},\"wordCount\":225,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\",\"name\":\"News Corp finally sells MySpace - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2011-06-29T20:18:51+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"News Corp finally sells MySpace - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/","twitter_card":"summary_large_image","twitter_title":"News Corp finally sells MySpace - Ghanamma.com","twitter_description":"29 June 2011 Last updated at 16:18 ET News Corporation has sold its ailing social networking site MySpace to online advertising firm Specific Media. News Corp paid $580m (\u00a3361m) for MySpace in 2005, but users and advertisers left the site for rival social sites like Facebook and Twitter.","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/"},"author":{"name":"","@id":""},"headline":"News Corp finally sells MySpace","datePublished":"2011-06-29T20:18:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/"},"wordCount":225,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/","url":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/","name":"News Corp finally sells MySpace - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage"},"thumbnailUrl":"","datePublished":"2011-06-29T20:18:51+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/06\/29\/news-corp-finally-sells-myspace\/#primaryimage","url":"","contentUrl":""},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/450455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=450455"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/450455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/450456"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=450455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=450455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=450455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}