June 30, 2011 06:07 am EDT

Specific Media buys MySpace, already has one friend named Tom

To be honest, we weren't entirely surprised to hear rumors back in February that News Corp. was looking to hand off MySpace -- after all, most of the luster seems to have left the once-mighty social network, and Rupert Murdoch's time these days is pretty full running a media empire and saying things in an Australian accent. Word got out this week that the site has landed firmly in the hands of the broadly-named Specific Media, a digital ad network that apparently couldn't get together a cool $19.1 billion for the first-place Facebook. According to rumors, the company scored MySpace for the rock-bottom price of $35 million, a fraction of the $580 million its predecessor paid a half-dozen years ago. No word on whether Murdoch's electroclash band will continue to use the service to promote its gigs.

Specific Media buys MySpace, already has one friend named Tom originally appeared on Engadget on Thu, 30 Jun 2011 02:07:00 EDT. Please see our terms for use of feeds.

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