Myspace and its parent company just got acquired by Time Inc.

Myspace and its parent company just got acquired by Time Inc.

Amidst earnings weeks and acquisition news, here’s one you may not have been expecting: 94-year-old publishing house Time Inc. has acquired Viant, the parent company of Myspace.

Yes, Tom Anderson‘s Myspace.

In a press release, Viant is described as a “people-based marketing platform,” and the move is mostly technical. Time Inc. says the acquisition allows the company to gain more registration data (so if you still have a Myspace account, your info is Time’s now) to grow its ad technology and “quality” content.

Myspace was revamped back in 2013 to focus primarily on music, with celebrity investors like Justin Timberlake. As of January 2015, it still reaches up to 50 million users a month.

Time Inc.’s titles include LIFE, Sports Illustrated, Food & Wine, People, Fortune, and Marie Claire. Just last week, it launched a mobile-focused website for beauty product enthusiasts. Time doesn’t quite have a music-focused brand just yet, so we’ll see how it incorporates Myspace into its content strategy across its titles.

The financial terms of the deal were not disclosed.

Time Inc. to Acquire the Assets of Viant, a Data-Driven Leader in People-Based Marketing [Business Wire]

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