Social-networking site MySpace was sold to Specific Media, which last probably 35 million dollars for the site, has consideration. It was already known that owner News Corp. of MySpace wanted rid due to poor results.
The company of mediamagnaat Rupert Murdoch will sell MySpace a part of the shares of Specific Media. The consideration was not announced, but allegedly it was for the acquisition of a 35 million dollar consideration. That is considerably less than the 580 million dollars News Corp. in 2005 for MySpace-paid. Specific Media is active on the market for online advertising.
It is striking that musician Justin Timberlake a stake in MySpace. According to Specific Media, Timberlake will help the social-networking site a go-around. This keeps the site focused on the sharing of music and video by artists. The current MySpace ceo Mike Jones will Specific Media and Timberlake, during a transitional period of two months guide, after which the company will leave.
MySpace lost in the past time many visitors and it also had the social-networking site, many workers dismiss. There were long time rumors that News Corp. of MySpace wanted rid. The media business came in 2005 in the possession of the site.