Remember Myspace? Its still around and it has been sold again.

FOX's Lisa Lacerra reports:

The company that owns Myspace being bought by Time Inc. to help the magazine publisher target ads.

Time not saying what it paid for Viant, which says it provides marketers with access to over 1.2-billion registered users.

That's the number of people who have signed up for Myspace since it was created in 2003. The site peaked in 2008 with about 76-million U.S. visitors before losing ground to Facebook.

Newscorp, the parent company of FOX News sold Myspace in 2011 to Justin Timberlake and Digital Ad Company Specific Media for $35-million, a fraction of its $580-million purchase.

Lisa Lacerra, FOX News.