ONCE ALL-CONQUERING social network Myspace has taken another step towards the knacker's yard, and it's going to have privacy campaigners seething.
Magazine publisher Time Inc has acquired the ex-topdog as part of its purchase of Viant, which acquired MySpaz in 2011 for $35m hoping to turn it around.
However, the NME publisher isn't in the market for taking back Facebook's crown. It wants your user data to better target its advertising.
It's not clear whether Myspaz will continue, or whether it plans to take the estimated one billion user accounts from over the years and run.
Myspace lost its lead in April 2008 and has declined ever since, mostly because it failed to evolve under Rupert Murdoch's ownership and lost over $500m in value.
In its heyday Myspace could have bought Facebook. Now it probably couldn't buy Friends Reunited, which also announced its closure recently.
Myspace's most recent owner, a consortium led by Viant's ad-targeting Specific Media network and fellow relic of the noughties Justin Timberlake, relaunched the site in 2013, essentially starting again with individual pages and photos wiped and a new set of functions, which was the last nail in the coffin as old users had no reason ever to go back.
The company plans to combine Specific Media's user data with its own mah-hoosive database to create an even stronger targeted ad network.
Time is keen to promote this as an all-in-one solution for marketers because of its access to editorial and user data. However, privacy campaigners will question whether the company has the right to pass the ownership of its data to a new company without explicit permission.
Of course, if it is a mistake and Time has just discovered the free Time Out in its multipack of Curly Wurlys, it wouldn't be the first owner to say so. Even Murdoch admitted in 2012 that it was a mistake to get involved.
Myspace is still continuing to operate normally as of this morning, but if you start getting adverts suggesting that 'because you said you liked Snow Patrol and Scouting for Girls you'd like ...' you'll know why. µ
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