June 30, 2011
Earlier today we reported the sale of MySpace to Specific Media for $35 million. This was not a surprise as News Corp has been looking for an exit strategy with MySpace for awhile now. What is somewhat interesting is the new ownership and the involvement of musician Justin Timberlake. We first caught news of this via a tweet from former MySpace CEO Mike Jones as he congratulated Justin Timberlake on the acquisition. Following that tweet Specific Media confirmed this news stating:
As part of the deal, Emmy and Grammy winning artist Justin Timberlake will also take an ownership stake and play a major role in developing the creative direction and strategy for the company moving forward. Specific Media and Timberlake plan to unveil their vision for the site in an exclusive press conference later this summer.
The irony here of course is that Justin Timberlake played Sean Parker in the film “The Social Network” which shares a fictional portrayal of the creation of Facebook which ultimiately surpassed MySpace as the largest social networking site. So it will be interesting to see how Justin Timberlake takes on the directing a nonfictional social network. Can he bring sexy back to the once dominate social networking giant?
Image attribution: Justin Timberlake SexyBack Part 1 [Single] Album Cover from IMG International
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