Current Owner of MySpace
MySpace is currently owned by Specific Media, a digital media and technology company, which acquired the platform from News Corp in 2011. Specific Media later rebranded and operates MySpace as a niche music and entertainment social network under its portfolio. The site is now a smaller, legacy platform with a focus on music artists and fan communities.
Specific Media, the entity behind the current MySpace ownership structure, is controlled by its management team and private investors. The company acquired MySpace for a fraction of its former valuation, aiming to preserve the brand as a music-centric social network. This ownership model keeps MySpace operational but far smaller than its peak user base.
History of MySpace Ownership
MySpace was founded in 2003 by Tom Anderson and Chris DeWolfe, and it grew rapidly into the world's largest social network by 2006. In 2005, News Corp, led by Rupert Murdoch, acquired MySpace for $580 million, making it one of the most expensive social media acquisitions of the era.
News Corp later restructured its digital assets, and in 2011 it sold MySpace to Specific Media and Justin Timberlake for $35 million. Under Specific Media, MySpace shifted its focus from general social networking to a music and entertainment platform. The site continued to operate under this ownership model into the mid-2010s and beyond.
Key Ownership Milestones
2003
MySpace launched as a social networking site by eUniverse, which was later renamed Intermix Media. The platform quickly gained popularity and became the dominant social network of its time.
2005
News Corp acquired MySpace for $580 million, marking a landmark deal in early social media history and bringing the platform under the umbrella of one of the world's largest media conglomerates.
2011
News Corp sold MySpace to Specific Media and Justin Timberlake for $35 million, signaling the end of MySpace's era as a major mainstream social network and the start of its transformation into a music-focused platform.
MySpace Parent Company and Corporate Structure
The parent company of MySpace today is Specific Media, which manages the platform as part of its broader digital media holdings. Specific Media operates MySpace alongside other online properties, maintaining the brand as a music and entertainment social network. The corporate structure keeps MySpace as a distinct brand under private ownership.
MySpace's current corporate setup is lean compared to its peak years under News Corp. The platform operates with a small team and focuses on serving a niche audience of musicians and fans. For more details on the corporate history of MySpace and its parent company, you can refer to the SEC filings and historical reports available on the official SEC website and financial news sources like Forbes.
The ownership of MySpace has shifted from a major media conglomerate to a private digital media company, reflecting the broader changes in the social media landscape. While MySpace no longer competes with platforms like Facebook or TikTok, it remains a recognizable brand in music and entertainment circles. Additional context on the platform's history and current status can be found in archived reports and industry analyses from trusted outlets.