Justin Timberlake buys MySpace
Justin Timberlake is to take a “major role” in the new direction of Myspace after he emerged as one of those behind a $35m deal for the ailing social network.
The singer turned actor, who starred as Facebook investor Sean Parker in the Hollywood hit The Social Network, took a stake in Myspace along with the online advertising company, Specific Media.
The unlikely entrepreneur will “lead the business strategy” for the fallen social network, the Specific Media chief executive Tim Vangerhook, said on announcing the $35m deal on Wednesday evening. In an interview with AdAge, Vanderhook said Timberlake, 30, had put his own money into buying Myspace, but refused to disclose how much. He confirmed that the former N Sync singer will have an office in Myspace but that he was “probably not going to be there every day”.
Timberlake said in a statement: “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 revitalise Myspace by using its social media platform to bring artists and fans together in one community.”
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