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# MySpace Sold To Ad Network Specific Media For Just $35 Million
- URL: https://www.hypebot.com/myspace-sold-ad-network-specific-media-for-35-million/
- Published: 2011-06-29T15:20:15.000Z
- Updated: 2011-06-29T15:20:15.000Z
- Description: MySpace has been sold to ad network Specific Media for a reported $35 million. News Corp, which paid $580 million for MySpace in 2006, had hoped to get as much. Continue reading [https://www.hypebot.com/hypebot/2011/06/myspace-sold-ad-network-specific-media-for-35-million.html]
- Author: Bruce Houghton
- Tags: Uncategorized, #wp, #wp-post, #Import 2026-01-21 10:55

[![image from www.google.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e20154335a588b970c-200wi "image from www.google.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e20154335a588b970c-popup?ref=hypebot.com)

MySpace has been sold to ad network **Specific Media** for a reported $35 million. News Corp, which paid $580 million for MySpace in 2006, had hoped to get as much as $100 million for the struggling social network. Sources are reporting that MySpace will **refocus on music**, after failed attempts to broaden to a more general entertainment site. Musicians have been moving away from MySpace in recent months, and new owners will have to make drastic changes to reverse that trend.

**50 Staff Cut & More:**

The deal includes cutting half of Myspace’s staff of 400 according to [AllThjingsD.](http://allthingsd.com/20110629/exclusive-myspace-to-be-sold-to-specific-media-at-35-million?ref=hypebot.com) Myspace CEO Mike Jones confirmed that he will be leaving the company in a letter to employees today.

Specific Media is an online advertising company. Founded in 1999 by brothers Tim, Chris and Russell Vanderhook, Specific Media is headquartered in Irvine, CA.