In 2005, which media conglomerate acquired MySpace for $580 million?

News Corporation acquired MySpace in 2005 for $580 million.

The transaction was completed through News Corp’s purchase of Intermix Media, the company that owned MySpace. Rupert Murdoch’s media empire announced the deal in July 2005, using the acquisition to expand beyond newspapers, television, and film into the rapidly growing internet market. MySpace became part of the newly developed Fox Interactive Media division.

At the time, MySpace was one of the web’s most popular social-networking services. It had become especially influential among musicians, bands, and younger users, allowing people to customize profiles, share music, and build online communities before Facebook became dominant.

The $580 million price is often remembered as a direct purchase of a standalone website, but the legal buyer acquired Intermix Media and its collection of sites, including MySpace. News Corporation later sold MySpace in 2011 for roughly $35 million after the service lost ground to Facebook, making the earlier purchase a frequently cited example of a media company overpaying for a fast-changing internet property.