Myspace Sold To Specific Media For $35 Million

Jun 29, 2011 - 20:43
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Myspace Sold To Specific Media For $35 Million

Myspace CEO Mike Jones released a company-wide email and press release announcing the social network's sale to Specific Media.

\"Specific Media, a digital media company, today announced it has acquired Myspace from News Corporation,\" the release reads. \"As part of the agreement, News Corporation will take a minority equity stake in Specific Media. Additional terms of the agreement are confidential and will not be disclosed.\"

In his email, Jones confirmed earlier rumors that layoffs would occur at Myspace this week. Wrote Jones, \"In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce.\"

Visit TechCrunch to read the full release.

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Mike Gallagher Mike Gallagher is a Georgia-based freelance journalist covering local news, community developments, and regional issues that matter most to residents across the state. Writing for Georgianewsday.com since 2016, Mike has built a reputation for clear, balanced reporting and a strong connection to the communities he serves. His work spans city council decisions, school board updates, small business features, public safety reports, and statewide policy changes. In addition to local coverage, Mike occasionally reports on state politics and national headlines, offering readers context on how broader decisions impact Georgia communities. Known for his steady, fact-driven approach, Mike prioritizes accuracy, fairness, and accessibility in every story. Whether covering a town hall meeting or breaking political developments, he aims to inform readers with clarity and integrity. Outside the newsroom, Mike remains actively engaged in Georgia’s civic landscape, always seeking the next story that shapes the state’s future.