On February 11, 2016, it was announced that Myspace and its parent company had been bought by Time Inc. Time Inc. was in turn purchased by the Meredith Corporation on January 31, 2018. In May 2016, the data for almost 360 million Myspace accounts was offered on the Real Deal dark market website.

What caused the downfall of Myspace?

The demise of MySpace wasnt just down to Facebook being a superior service, though. It was down to mismanagement too. The rise of MySpace can be attributed to timing and accessibility. The platform was launched in 2003 and was one of the first social media sites.

Does Justin Timberlake own MySpace?

In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million. On February 11, 2016, it was announced that Myspace and its parent company had been purchased by Time Inc. for $87 million.