Everyone presumed Myspace to be finished. Since the development of Facebook, the Myspace phenomena has diminished. But wait, the comeback of the year might be in the works!? Myspace, the presumed-dead social networking site was purchased by a group including Justin Timberlake, and has revamped itself and added more than 1 million new users last month.
Six years ago, Myspace seemed like a great investment. It was purchased by News Corporation for $580 million. But this week, the struggling social media site was sold to advertising network Specific Media, for roughly $35 million.
Who's the new owner?