revver_picConfirming earlier rumors, video-sharing site Revver has been acquired by LiveUniverse, a company launched by former MySpace parent company Intermix Media’s founder Brad Greenspan, according to reports from NewTeeVee and CNET News.com.

While terms of the acquisition were not disclosed, News.com reported earlier this month that the struggling Revver, which had seen the departure of all of its founders, and its staff cut in half, was asking for only $300,000 to $500,000, plus taking on about $1 million in debt.

Revver was one of the first video sharing sites to promote sharing ad revenue with video creators.

The Los Angeles based company has raised a total of around $13 million in venture capital.

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