Myspace Acquired by Time Inc, Fortune’s Publisher
Time Incorporated, the parent company of Time, Fortune, and Sports Illustrated, among others, announced on Thursday that it will acquire the assets of Viant Technology, a New York data-driven marketing firm.
Viant is the name of the former Interactive Media Holdings and is the parent company of Specific Media, Vindico, Xumo, and Myspace. It was founded in 1999.
Myspace, of course, was the largest social networking site in the world in the mid-2000s. In 2005, it was acquired by News Corporation (NWS) for $580 million. In 2011, it was acquired for $35 million by Specific Media Group and recording artist Justin Timberlake.
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Time Inc (TIME) says it acquired Viant to better target advertisement delivery to its customers, among other things. The 94-year-old publisher also owns InStyle, People, HelloGiggles, and xoJane.
“This acquisition is game changing for us,” Time Inc. CEO Joe Ripp said in a statement. “Marketers are selecting media partners that have either data-driven capabilities or premium content; we will be able to deliver both in a single platform.”