Wednesday, June 29, 2011

Specific Media: Advertising site buys MySpace from Rupert Murdoch's News Corp. for $35 million.

One for the record books: $545M less than the purchase price six years ago

Rupert Murdoch’s News Corp. has finally found a buyer for MySpace, but the $35 million sale price is only a fraction of how much the company had been asking for.

Advertising network operator Specific Media and News Corp. finalized the deal Wednesday, allowing Murdoch's company to move the once-mighty social networking site off its books before its fiscal quarter ends Thursday.

Specific Media: Advertising site buys MySpace from Rupert Murdoch's News Corp. for $35 million.

Post a Comment