Time Inc. says social networking site Myspace has been hacked

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Time Inc. on Tuesday confirmed reports that social networking subsidiary Myspace has been the victim of a hacking incident.

Shortly before the Memorial Day weekend, Myspace's security team became aware that stolen user login data was being made available in an online hacker forum. The compromised data includes a portion of Myspace usernames, passwords and email addresses, from the old Myspace platform prior to June 11, 2013 — when the site was relaunched with significant steps to strengthen account security.

The breach didn't affect any of Time's systems, subscriber information or other media properties and did not appear to include financial data of any kind, the company said.

"Our information security and privacy teams are doing everything we can to support the Myspace team," Jeff Bairstow, Time executive vice president and chief financial officer, said in a statement.