[Infowarrior] - Myspace to be sold for $35 million

[Richard Forno]

(c/o JH)

Myspace to be sold for $35 million

Los Angeles Times | June 29, 2011 | 11:27 a.m.

Myspace, formerly the dominant online social network, will be sold to Irvine-based Specific Media for $35 million in cash and stock, a person familiar with the matter said. News Corp., which acquired Myspace in 2005 for $580 million, plans to retain a small stake in company.

More soon at http://www.latimes.com.