MySpace Still Exists, Parent Company Sells Social Network’s Remains To Time Inc.

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Prepare to transport yourself back to 2003, kids, before Facebook, when a profile meant a list of your Top 5 friends and a flashy, custom design, and MySpace ruled the social media realm (Friendster, sit down). Apparently, it still exists today, and Time Inc. now owns what’s left of it.

Parent company Viant sold MySpace — now dedicated to music and videos, though users still have profiles and a list of “top” friends — to the magazine publisher behind People, Sports Illustrated, and Time, among others (h/t Associated Press).

The price wasn’t disclosed, but Viant promises it can give marketers access to more than 1.2 billion users.

In 2008, the AP notes, MySpace boasted 76 million U.S. visitors before Facebook pushed it out of public favor. Justin Timberlake and some other investors bought it in 2011 from News Corp. for $35 million.

Magazine publisher Time Inc. buys what’s left of MySpace [Associated Press]

by Mary Beth Quirk via Consumerist