Irony Alert: Justin Timberlake Invests in MySpace

Thursday, 30 June 2011 | by Pat's Picks

How’s this for irony? Yesterday, MySpace was sold for $35 million to Spectator Media, just six years after Rupert Murdoch’s News Corps paid $508 million for it. Today, the LA Times says “Social Network”  star Justin Timberlake has signed up for an ownership stake in MySpace’s reincarnation and will also direct the site’s new “creative strategy.” Said Spectator CEO of the deal: “Regardless of the current perception of the Myspace brand, it’s one of the small group of brands that has international prominence and a global traffic base of almost 100 million people going to it every month.” According to insiders, Timberlake is expected to help bring back the site’s cachet. He 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”

(Photo via Wikipedia)