Justin Timberlake, future MySpace Owner

Pop musician – actor Justin Timberlake is one of the people who, on Wednesday, said are intending to buy MySpace from News Corp and add some cool features to boost up the number of users, Associated Press announces

Justin Timberlake will enter a partnership with the company Specific Media and will become part owner of the social network. The company’s representatives said that Timberlake will play “a major role in developing the creative direction and strategy for the company moving forward.”

Specific Media will pay a sum of 35 million dollars, mostly in the stock of the company, source tells. In the contract, News Corp is specified to receive a private equity stake in Specific Media.  News Corp bought MySpace six years ago and the present price values the website at just a fraction of the price paid back then. The price in 2005 was 580 million dollars. But the website was not as promising as thought, with musicians, actors and other celebrities migrated to other social networks – Facebook, Twitter – for promoting their latest news and events.

According to the exchange, News Corp will sell 95% of the website to Specific Media, according to a source that wanted to remain anonymous. The deal was closed later on Wednesday.

Justin Timberlake spoke about his own vision of the future of  MySpace. He said in a statement that the users need more interaction with their favorite stars and more things to do online. “There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect”, the performer said. “MySpace has the potential to be that place.”

Specific Media stated that it’s looking forward to the collaboration with Timberlake “who will lead the business strategy with his creative ideas and vision for transforming MySpace.” It is clear that the new owners are bidding on the music artists as a start for MySpace to reconnect with its celebrity roots.

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Cat Cain is our latest addition to the team. She's an expert in celebrity life and fashion and will cover any news that has to do with the life of the stars. She has a Bachelors Degree in Journalism and a Master Degree in Journalism and Social Communication and she's very passionate about life on the big screen and behind the curtains. If you have any suggestions or questions for her, send her an email at cat.cain @

1 Comment

  1. What most of these owners probably don’t realize is that myspace users weren’t searching for a way to follow their favorite superstars. The intrigue of myspace was that it allowed fledgling stars the opportunity to be seen by the public on both a local and international level.

    The public then could influence these artists by causing them to move up or down the top artists charts. The top artists charts could be looked at on any level from a small town, to the state level, to the international level. If you were considered the best blues, pop, soul, rap, etc. artist in your town or state you could see that on the top artists charts and watch your rating rise or fall from day to day. It helped artists visualize a career at the beginning stage and made them feel like there might be hope to move to higher levels.

    As an audience member we could search for the hot acts in our area in any genre we were interested in. We could then see a sample on their profile page to see if we liked it.
    Agents could find acts to book and artists could network with one another.

    The previous owners threw away this feature.

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