MySpace Acquisition Settled, Justin Timberlake Revealed To Be An Investor
Jun 30, 2011 18:18
Ruper Murdoch's News Corporation had recently agreed to sell Myspace to Specific Media for $35 million, a fraction of the $100m it was initially seeking earlier this year.
Hours after news of the sale went public, Timberlake announced his minority stake in the company. Based on a statement provided to The Hollywood Reporter, "The Social Network" star is set to help Specific Media develop the company's future strategy and creative direction:
"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," said Timberlake in a statement.
"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."
In an interview with AdAge, Specific Media chief executive Tim Vangerhook revealed how Timberlake 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".
Ikea just made an ad that looked a lot like The Shining. One scene, that is. Ikea Singapore is promoting its late night shopping hours, and this is probably the best Halloween ad anyone has done for a long time. Read more
Here's a very important development in technology. The engineers over at Hendo just released a video of their real-world Back to the Future style hoverboard. It works, and they're showing it off. Read more