When you're a century-old publishing company suffering through the death throes of print, you've got to get inventive about how to attract to the kids.
Well, Time Inc. (TIME) has clearly done its research and it turns out that the youth love social media, ironic nostalgia and hashtags, so Time went out and bought something that combines all three!
Per a Time press release:
Time Inc. today announced that it has entered into a series of agreements to acquire the assets of Viant Technology Inc., a data-driven leader in people-based marketing.
Viant's most famous property is the Brian Dunkelman of social media, My Space.
Now the Viant deal is a clear and obvious digital advertising play by Time, and MySpace is a tech ghost-ship chock full of user data, but it is pretty hard to ignore the #tbt awesomeness of Time acquiring MySpace in the year 2016.
So let's allow Time CEO Joe Ripp a moment to #humblebrag about his new toy...
“This acquisition is game changing for us,” said Time Inc. Chairman and CEO Joe Ripp. “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 ROI.”
In other media acquisition news, rumors are now swirling that the publishers of Cat Fancy are exploring the purchase of Friendster.