MySpace, the long-suffering website that News Corp. bought six years ago for $580 million, was sold Wednesday to Specific Media, an advertising network, for roughly $35 million.

News Corp., which is controlled by Rupert Murdoch, had been trying since last winter to rid itself of the unprofitable unit, which was a casualty of changing tastes and may be a cautionary tale for social companies like Zynga and LinkedIn that are currently enjoying sky-high valuations.