Myspace CEO Mike Jones just sent out this mass internal email and press release confirming the company’s sale to Specific Media earlier this morning. Kara Swisher of AllthingsDigital is reporting that the sale was for $35 million.
This email was sent out to Myspace employees this morning.
From: Mike Jones
Sent: Wednesday, June 29, 2011 11:26 AM
To: Myspace All
Subject: IMPORTANT COMPANY NEWS
Today, we are announcing that Myspace will be acquired by Specific Media, one of the world’s leading online media and advertising platforms. Over the next few days you will be hearing from the team at Specific, including their CEO, Tim Vanderhook, regarding their exciting plans for Myspace and how it fits in with the overall vision of their company.
In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce. I will assist Specific with the transition over the next two months before departing my role as Myspace CEO.
I wanted to take a minute to thank you all for the incredible experience it has been to lead this company and to work closely with all of you over the past several years. While I regret we won’t be working together at Myspace any longer, I am very proud of the work we have done here and believe we have performed with excellence – even under extremely difficult circumstances.
My time here at Myspace represents the most engaging and challenging time of my professional career. I have found our team to be comprised of the best people I have come across in our industry.
You can read the press release below. Once again, thank you for all of your hard work and dedication.
Specific Media is a global interactive media company that enables advertisers to connect with consumers in meaningful, impactful and relevant ways.
MySpace is one of the world’s largest social networks, with about 125 million users. The social network was acquired on July 1, 2005 by Fox Interactive Media for $580M in Cash.