Thursday, June 30, 2011

How News Corp. Sold MySpace to an Ad Network -- and Justin Timberlake

The negotiations went all night Tuesday, and the lawyers had been at it for several nights before that.

All for a relatively simple transaction: about $35 million, mainly in stock, swapping Specific Media share for ownership of MySpace.

TheWrap spoke to two individuals involved in the deal to glean details of how it went down, and why.

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Source: http://www.thewrap.com/column-post/how-news-corp-sold-myspace-ad-network-%E2%80%93-and-justin-timberlake-28700

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