When NewsCorp bought MySpace in 2005 it paid nearly a half billion dollars for the then-social media giant. This week NewsCorp sold MySpace for a paltry $35 million to a group which seems intent on turning it into a social media advertising sharing site…whatever that might be.
The biggest news to come out of the deal this week, besides the $450 million loss NewsCorp took, is the fact Justin Timberlake is among the group which ponied up the money to buy it.
Does this mean MySpace will become cool again? Can Timberlake use his musical credibility to attract new users? Will we see the re-birth of MySpace as something altogether different, yet very much like the social media behemoth it once was?
All of this conjecture is fine and good, but the fact is, with 130 million estimated users, MySpace is hardly dead anyway. A little TLC and a new direction, and MySpace could easily make a comeback, assuming that is what its new owners want from it. Of course that story is hardly as exciting as thinking Justin Timberlake might become the new “Tom”….
Justin Timberlake has made a big announcement. He’s making his return to the world of music — but he’s not releasing his much-anticipated third solo album anytime soon.
No: Timberlake has taken a major stake in the long-flagging social network MySpace, which he intends to make “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.”
Timberlake’s decision was met with a fair amount of bafflement on the Internet, and a number of jokes alluding to Justin’s role as former Facebook higher-up Sean Parker in The Social Network.
Some of the snappier witticisms include:
Via @askmichaelcohen: #JustinTimberlake #5thingsyoucantdo are act, quit singing, be black, escape N’Sync or make MySpace cool. Sorry boo.
Via @TheFakeCNN: Justin Timberlake part of group acquiring MySpace. Proving once again that some people have more money than they know what to do with.
Via @SnoopDogg: Ay Justin Timberlake @jtimberlake i think they need to dropp tha “MY” and Just call it “SPACE” worked for Facebook! Let that marinade!
Via @chrissyteigen: oh, so many “i’m bringing myspace back” justin timberlake jokes. there was no point in this unless he does that ad campaign.
Via @DonovanWoods: This just in: Justin Timberlake also buys Blockbuster Media and a rotary phone factory. What does he see that we don’t!?! #myspace
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