According to AllThingsD Specific Media has acquired Myspace from News Corp. for $35 million. Reportedly, Myspace’s CEO, Mike Jones, will remain for “an interim period,” and the social network will lay off half of its staff, or about 200 people. Myspace, which has seen a sharp decline in traffic over the years since it was acquired by News Corp in 2005 for $580 million, announced in January that it was laying off 47% of its employees. News Corp. will maintain less than a 5% stake in the company.
June 29th, 2011 at 2:43 PM