Time magazine buys Myspace


ASSOCIATED PRESS: Time bought Myspace to target ads.

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Time Inc. did not say Thursday what it paid. The publisher of People, Sports Illustrated and Time magazines was spun off from entertainment company Time Warner in 2014. It is facing a decline in print ad dollars and posted an $881 million loss last year.

Myspace’s parent company is Viant, which says it provides marketers with access to over 1.2 billion registered users. That’s the number of people who have signed in to Myspace since it was created in 2003.

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