Time Inc. — the owner of Time, Fortune, and People magazines — has acquired Viant, the parent company of MySpace.
Joe Ripp, chairman and CEO of Time Inc., described the acquisition as "game changing" in a press release.
The financial terms of the deal were not disclosed.
For Time Inc., this acquisition is all about the data.
Ad network Specific Media, another Viant-owned company, scooped up MySpace for $35 million in 2011.
In buying MySpace, Viant amassed a database of more than 1 billion registered users. While not all of those people may have kept the same email address from their MySpace days, it still has an enviable treasure trove of first-party data.