Myspace is not dead and last week it was sold. Here’s more from Business Insider:

Time Inc., the owner of Time, Fortune, and People magazines, has acquired Viant, the parent company of Myspace. 

Ad network Specific Media, another Viant-owned company, scooped up Myspace for $35 million in 2011. Its previous owner before that was News Corp, which bought Myspace for $580 million back in 2005.

In buying Myspace, Viant amassed a database of more than 1 billion registered users. While not all of those people may have kept the same email address from their Myspace days, it still has an enviable treasure trove of first-party data.

Myspace at one time employed 1,600 employees. That had dwindled to 400 by 2011.

Read the whole story from Business Indsider here