MySpace Sold for $35 Million

MySpace
Myspace
Myspace

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 technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.

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