Danny Robinson of Bootup Labs & Strutta blogged yesterday about the acquisition of Peerflix by Live Universe - a company started by MySpace founder Brad Greenspan.

Peerflix is a company I founded back in 2004 with Billy McNair. I’m happy to announce that LiveUniverse, started by MySpace founder Brad Greenspan, has acquired Peerflix.com. Terms of the deal will not be disclosed.

Peerflix started as a peer-to-peer version of Netflix where users traded the DVDs they own with each other for $0.99 each. Later Peerflix morphed into a much more lucrative business called the Peerflix Media Ad Network. Kind of an ad network in the movie industry vertical. In the process, Peerflix acquired TheMovieBlog which helped to achieve critical mass.

Most people don't know that Peerflix was actually founded a year earlier by Robinson and Tim Stewart (currently CTO of GiveMeaning.com). After a mention in the New York Times and a resulting flurry of interest from VCs in the U.S. in early 2004, Robinson recruited Bily McNair and opened an office in Palo Alto. In March 2007, Robinson consolidated Peerflix in California, appointed McNair as CEO, and left to work on Strutta locally.