News Corp has officially sold MySpace to the advertising firm Specific Media for around $35 million. Six years ago, News Corp purchased MySpace for $580 million and quickly began to lose advertising revenue to Facebook’s popularity. Specific Media got quite the deal, as the forlorn social networking site is still expected to generate over $180 million in ad revenue this year. Read the full article at NYTimes.com
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.