News Corporation has sole its bum amicable networking site MySpace to online promotion definite Specific Media.
News Corp paid $580m (361m) for MySpace in 2005, but users and advertisers left the site for opponent amicable sites similar to Facebook and Twitter.
The sale conditions were not disclosed, but there were unconfirmed reports that cost paid was as low as $35m.
Specific Media said: "We look deliver to mixing the platforms to expostulate the next era of digital innovation."
Specific Media was founded in 1999 by 3 brothers - Tim, Chris and Russell Vanderhook - and is formed in Irvine, California.
MySpace was a heading amicable networking site when it was paid for by Rupert Murdoch's News Corp.
But the business was eclipsed by rivals, and notwithstanding attempts to resuscitate MySpace's fortunes the site has been a financial millstone.
The Reuters headlines group cited a News Corp-owned blogging site as stating that MySpace was sole for $35m.
News Corp's arch working executive Chase Carey mentioned in November that the losses at MySpace were "unsustainable".
Although News Corp does not tell specific results for MySpace in its accounts, the "other" segment, that includes the amicable network, reported a second entertain working loss of $156m - $31m worse than a year earlier.
According to tracking definite comScore, MySpace had 21.8 million unique monthly US visitors in Aug 2005 compared with Facebook's 8.3 million.
In May, Facebook's monthly US visitors had risen to 157.2 compared with MySpace's 34.9 million, comScore said. Facebook has scarcely 700 million members worldwide.
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