Justin Timberlake takes stake in MySpace
Friday 01 July 2011
Music superstar and actor Justin Timberlake has signed on as a new partial owner of MySpace, along with Specific Media, which bought the service from Rupert Murdoch's News Corp.
According to The Hollywood Reporter, Timberlake will play a significant role in the reboot of the website, developing a strategy for a new creative direction for MySpace.
Ironically, in 2010's acclaimed film The Social Network, the pop singer portrayed Sean Parker, one of Facebook's early leaders and a co-founder of the former file-sharing service Napster.
California-based Specific Media, which specializes in online advertising, finalized its purchase of MySpace for $35 million on June 29, for considerably less than the $580 million the News Corp. paid for the website six years ago.
Despite the shrinking of the MySpace subscriber base in light of Facebook's dominance in the social media market, many musicians still maintain a presence on the site.
"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," Timberlake said in a statement. "I'm excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community."
The specific plans for MySpace will be unveiled at a press conference later this summer, but according to The Wrap, there is interest in developing MySpace as part of the "interest graph," organizing users around interests, instead of the "social graph," like Facebook - and focusing on music.
Life & Style blogs
How Old Do I Look: Microsoft’s super advanced age-guessing app is terrible at guessing how old celebrities are, too
What do the emoji on Snapchat mean?
The 12 most sexually satisfied countries in the world revealed
ZX Spectrum to return with Vega reboot
Uploading pictures to find out how old you are gives Microsoft the right to post them wherever they want
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
- 2 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 4 How the language you speak changes your view of the world
iJobs Gadgets & Tech
£17000 - £30000 per annum: Recruitment Genius: Developer required to join a bu...
£15000 - £25000 per annum: Recruitment Genius: As your knowledge grows you wil...
£40000 - £48000 per annum + Benefits: Ashdown Group: Systems Engineer - Linux ...
£20000 - £30000 per annum: Recruitment Genius: This leading provider of Cloud ...