Time Inc has acquired Viant, the parent company of MySpace, in what the company is calling a "game changing" event.
Time is the parent company of popular publications like Fortune, People and, of course, Time, which is over 90 years old.
CEO and Chairman Joe Ripp did not disclose the financial details but did note that the acquisition is all about first-party data, including up to 1 billion email addresses.
Viant acquired MySpace for $35 million in 2011, taking the dead social network from News Corp who had bought it for $580 million in 2005.
Time says "Targeting ad delivery to the optimal audiences; linking devices back to real people; converting ad spending to actual sales and closing the ROI loop," are the plans for MySpace.
Source:
BI
CEO and Chairman Joe Ripp did not disclose the financial details but did note that the acquisition is all about first-party data, including up to 1 billion email addresses.
Viant acquired MySpace for $35 million in 2011, taking the dead social network from News Corp who had bought it for $580 million in 2005.
Time says "Targeting ad delivery to the optimal audiences; linking devices back to real people; converting ad spending to actual sales and closing the ROI loop," are the plans for MySpace.
Source:
BI
