Myspace Dead and Gone?

Justin Timberlake managed to bring Sexy Back in 2006. His next project of bring Myspace back might be a little more challenging. 

Six years ago Myspace was acquired for $580 million. This month Specific Media LLC will make it their space for a mere $35 million. With the popularity of other social networks like Facebook and Twitter, MySpace has become the abandoned carnival of the internet. 

Timberlake has bought a minority stake in Myspace and will also have a title. The musician’s involvement might be a major asset as the music component of the site will be a focus point in the rebranding.  In a statement Timberlacke said, “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.”

Specific Media CEO Tim Vanderhook says, "We look forward to partnering with someone as talented as Justin Timberlake who will lead the business strategy with his creative ideas and vision for transforming MySpace." 

Sources: The Hollywood Reporter and Wall Street Journal