Law360, New York (June 29, 2011, 4:30 PM ET) -- Online advertising company Specific Media LLC on Wednesday snapped up fading social media pioneer MySpace Inc. from News Corp. for a reported $35 million.
Specific Media did not disclose the acquisition price, saying only that as part of the deal News Corp. would take a minority stake in the buyer.
“There are many synergies between our companies as we are both focused on enhancing digital media experiences by fueling connections with relevance and interest.,” Specific Media CEO Tim Vanderhook said. “We look forward to combining our...
Hogan Lovells Reps News Corp. In $35M MySpace Sale
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