News: News Corp. Sells MySpace & Justin Timberlake Becomes New Spokesperson

By on June 30, 2011

 

 

justin timberlake myspace News: News Corp. Sells MySpace & Justin Timberlake Becomes New Spokesperson

In recent years the once dominant MySpace has been flailing to maintain profits and relevance in a world now privy to younger, more engaging social networks. This week the company was sold by Rupert Murdoch’s conglomerate News Corp. for a rumored $30-40 million. Ironically, one of its new stakeholders is singer and more recently The Social Network supporting actor, Justin Timberlake. News Corporation will take a minority equity stake in Specific Media (with whom they brokered the MySpace deal 6 years ago for $35 million) who now plan to use the pop star as the face of the brand. The pop star is hoping to breathe new life into the website and move in a more music oriented direction. As much as we all think MySpace is irrelevant these days, there is still a very healthy presence of music acts in the online community. Here’s what Timberlake had to say about his plans for the new acquisitions:

“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. Myspace has the potential to be that place. Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.”

- @Middz_

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