Time gets MySpace with ad platform acquisition
New York (AFP) –
US magazine publisher Time Inc. said Thursday it was acquiring the online advertising group Viant Technology, which includes the remnants of social network pioneer MySpace.
Terms of the deal were not announced, but the acquisition marks the latest change in ownership for MySpace, which was a leader in social networking before being crushed by Facebook.
Time said it was buying Viant for its "people-based performance platform" that helps target advertising to online users and helps measure the impact of marketing messages.
"This acquisition is game changing for us," said Time Inc. chairman and chief executive Joe Ripp.
"Marketers are selecting media partners that have either data-driven capabilities or premium content; we will be able to deliver both in a single platform, and will stand apart from those that offer just one or the other. In other words, we will be able to deliver advertisers' messages targeted to optimal audiences across all types of devices, along with the ability to measure ROI (return on investment)."
Time was spun off from Time Warner in 2014, as part of an unbundling of the conglomerate as media groups moved to dump slow-growing print operations. It retained its flagship Time magazine along with People, Fortune, Sports Illustrated and other titles.
MySpace, which was acquired by News Corp. for $580 million and later sold for $35 million, rebranded itself in 2012 as a music-centric online community.
© 2016 AFP