Sold: MySpace goes to ad company for $35 mil

NEW YORK

The sale to online advertising network operator Specific Media is expected to close later Wednesday, a day before the end of News Corp.'s fiscal year.

The person was not authorized to speak publicly and spoke on condition of anonymity.

News Corp. bought MySpace for $580 million in 2005, but users and advertisers have fled the site for other hotter social networks like Facebook and Twitter.

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