had fallen from 95 million to 63 million unique users in the previous 12 months. Myspace registered its sharpest audience declines in February 2011, as traffic fell 44% from a year earlier to 37.7 million U.S. visitors. Advertisers were reported as unwilling to commit to long-term deals with the site. In late February 2011, News Corporation officially put the site up for sale for an estimated $50–200 million. Losses from the last quarter of 2010 were $156 million, over double the previous year, which dragged down the otherwise strong results of News Corporation. The deadline for bids, May 31, 2011, passed without any above the reserve price of $100 million being submitted. It has been said that the decline in users during the most recent quarter deterred several potential suitors. On June 29, 2011, Myspace announced in an email to label partners and press that it had been acquired by Specific Media for an undisclosed sum, which was rumored to be as low as $35 million. CNN reported that the site sold for $35 million, and noted that it was "far less than the $580 million News Corp. paid for Myspace in 2005." Murdoch went on to call the Myspace purchase a "huge mistake", and Time magazine compared it to Time Warner's 2000 purchase of AOL, which saw a conglomerate trying to stay ahead of the competition. Many former executives have gone on to further success after departing Myspace. 2016–present: Time Inc. and Meredith Corporation ownership On February 11, 2016, it was announced that Myspace and its parent company had been bought by Time Inc.; On January 31, 2018, Time Inc. was in turn purchased by Meredith Corporation, who went on to sell a number of Time Inc.'s assets, including (as it announced on November 4, 2019) selling its equity in Viant, the parent company of Specific Media, back to Viant Technology Holding Inc. In May 2016, the data for almost 360 million Myspace accounts was offered on the "Real Deal" dark market website, which included email addresses, usernames and weakly encrypted passwords (SHA1 hashes of the first 10 characters of the password converted to lowercase and stored without a cryptographic salt). The exact data breach date is unknown, but analysis of the data suggests it was exposed around eight years before being made public, around mid-2008 to early 2009. Features Since YouTube's founding in 2005, Myspace users had the