Time Inc. Now Owns Myspace
Posted on February 12, 2016
Time Inc. is now the proud owner of Myspace. Myspace was once was one of the top social networks. It was acquired by News Corp. in 2005 for about $580 million.Time Inc.'s acquisition of the social network was part of a deal to acquire the assets of Viant Technology. Time Inc. primarily purchased Viant for its advertising technology and massive databases. The company's Viant Advertising Cloud provides access to 1.2 billion registered users. Viant acquired Myspace (as Specific Media) in 2011 for $35 million calling it "one of the largest 1st party registered data pools.
Myspace definitely peaked years ago but its traffic today is not insignificant. A report from early last year said the site still gets 50 million monthly visitors. It also generates 300 million video views.
Time Inc. Chairman and CEO Joe Ripp said in a statement, "This acquisition is game changing for us. Marketers are selecting media partners that have either data-driven capabilities or premium content; we will be able to deliver both in a single platform, and will stand apart from those that offer just one or the other. In other words, we will be able to deliver advertisers' messages targeted to optimal audiences across all types of devices, along with the ability to measure ROI."