We were all set to report on rumors that MySpace would soon lay off 150 more employees, after having cut its workforce by nearly half over the past few months. But early Wednesday morning, CEO Mike Jones sent an email to the rest of the company to let them know that the digital advertising company Specific Media had acquired the company–and that with new ownership would come “a significant reduction in our workforce.”
Apparently the new round of layoffs will be even bigger than feared, and Jones himself will be departing after a two-month transition. Sale price was reported at $35 million, quite a comedown from the $580 million Newscorp paid for the service in 2005.
Read more at TechCrunch.