Time Inc. announced Thursday it is acquiring Irvine-based advertising company Viant, best known as the owner of the value-diminished Myspace.
Despite Myspace having lost much of its value through the years, Time Inc. insisted the acquisition will be significant.
“This acquisition is game changing for us,” Time Inc. Chairman and CEO Joe Ripp said in a statement. “Marketers are selecting media partners that have either data-driven capabilities or premium content; we will be able to deliver both in a single platform and will stand apart from those that offer just one or the other.
“In other words, we will be able to deliver advertisers’ messages targeted to optimal audiences across all types of devices, along with the ability to measure (return on investment),” Ripp said.
Specific Media, which is owned by Viant, acquired the social-networking site Myspace from News Corp. for $35 million in June 2011. News Corp. had acquired the site for $580 million in 2005.
Viant boasts what the company says is one of the biggest pools of registered users through advertising applications available in the cloud. The company helps the owners of various brands “plan, execute and measure their digital investments.”
About a year ago, the company launched a “people-based platform with the Viant Advertising Cloud,” said Tim Vanderhook, Viant’s chief executive.
“With over one billion global registered users connected to their households and devices, we knew our data and technology story was solid,” Vanderhook said. “The combination of Time Inc. and Viant is all about the marriage of first-party data and premium content.”
—City News Service