Justin Timberlake buys MySpace.com for 35 mil $ ?!

Probably a smart move on his behalf - I am sure his share was closer to a couple of million and the company put up the rest and plan to use him as a figure head.

I remember earlier this year Fox said they were hoping to get $100 million for it - I remember the day they bought it for $850 million - crazy.

I wish them luck with a smart strategy they could possibly turn it around - I recently read some where that 100 million people still regularly check their myspace accounts.

Wow, that's definitely a good investment. I would have bought Myspace at that price too if I have the money

They need to develop a new revenue model for Myspace. If they do that, they can recoup the cost relatively easily I think.

He must have let his character from "The Social Network" movie go to his head. Maybe he will be playing himself in the sequel.

I wish him the best of luck i hope he can turn it around. back in the day myspace was a great site. its kind of sad to see it in its current state.

Did he purchase it entirely, or just contribute a portion to the purchase? From my understanding, be purchased a Stake in MySpace, but not the entire thing. I may be wrong.

Wow thats good for him.....I wish him the best of luck

It's going to require a pretty big revision of what Myspace should be. A revision that please god doesn't include this crap circa 2003...

"500 million users isn't cool, you know what's cool? A dozen users." - Myspace

With that goal in mind I think he's on the right track.

I just back from Canada and one of my contacts there, he's big in television and has a record label, says he was thinking of deleting his Myspace. A few years ago, that was how I contacted him, but with Facebook and Twitter, there really is no need.

Myspace is the realm of the indie bands now.

I'm definitely going to be watching this one.

Former Facebook Rival MySpace Sold To Specific Media

Here is proof, but Myspace bought Specific Media, not JT. That's sad that myspace went from 580 million to 35 million in just a few years.

You put the $ in the wrong place, it should read $35
In my humble opinion it is and will remain a toxic asset. JT should have just set up a new site with him being the brand/company ambassador.
$35 mill is a truck load to pay for a outdated user list and a site that is outdated and out of touch. Music folk now network on youtube I've found.

This is awesome actually. I'm quite glad I read this. JT and his crew better have some good ideas though... The world stopped using Myspace years ago.

This would be a good move considering that MySpace would finally have a real purpose for being in existence. Now they have a model they can actually follow and promote.

I believe facebook will be around and growing for many years to come
but i think twitter will be the next big social media website to take
huge dip. Just like myspace.

He's got an undisclosed stake it in it. Could be a dollar, could be 34.9 mill.

i thought myspace changed their name to my___ a while ago?!?

Sorry..i think that horse is dead and cannot be revived. If i say "myspace" all i get back is laughs nowadays. It would need a SERIOUS overhaul and then it would still have that stigmata of something which was hip "5 year ago".

Myspace is good for business

Timberlake didn't buy Myspace. He's one of many investors with a stake in it. My guess is they think he can revive it and they're using him to front for them. I doubt he can do much with it.

Interesting but I don't know anyone that uses Myspace anymore and most have deleted their accounts.

In any case, Myspace profile pages were the most unusable pages I have ever encountered on the internet. Terrible backgrounds that clash with the foreground and text color that gives you a seizure. I actually remember having to highlight the text on the page because otherwise it was unreadable.

Sorry it really sounds like this last social network gig went to his head. Why invest in something he knows nothing about?

MySpace is a dying ship and needs a HUGE pivot to even begin to get somewhere. Granted they still have a good userbase but the pivot would need to isolate a new userbase. Which in the end, why even spend as much as they did on Myspace?

I highly doubt his stake was that much, this is a PR move by the company to include him in the acquisition as they use his brand to push "their business model" forward.

I bet he only put in $XX,XXX maybe one more X, his brand is worth more then myspace in the long run so I'm sure there are some nicely drawn up contracts to keep him apart of this new space they are going to create,

Hey, if they they can make it relevant and find a niche...100 Million users is not a bad starting point.

I have not used MySpace in years, my profile was massively outdated, and the majority of my videos were not even up on their site.

With JT and his name/fans that back him I can see him using it as a mini-springboard to pop culture, music, comedy, etc. With that in mind I have signed back onto My_____ today and started cleaning up my profile, adding videos, and generally spending a little time being active on it again.

For comedy, music, videos, etc. Facebook really blows because it's just always a little too serious. Myspace has a ton of room in this massive marketplace to recarve out that niche they had to begin with.

You also have startups like MyPod Studios doing a little in between where they find artists / entertainers / DIY gurus / etc. and build them channel pages/portals for their work. I think over the next 2-3 years it's going to go back to how it used to be with more players in the field. I know personally Facebook is just tiring. It's not for work, it's not for play. It's stuck in that in between realm now IMO. I use LinkedIn for my real life business, and YouTube/Myspace/Twitter/homepage/ etc. for my artistic stuff.

I always liked myspace better then facebook... just cause you could personally customized the look and feel and put music on it.

But I know it really started to get raunchy and too sexual with the personal comment graphics . And facebook has a more professional feel..... and that's when businesses jumped on with facebook.

Didn't Justin help start Facebook??

Now that google is going into competition as well with google plus I'm not sure buying myspace is a good investment!

To be honest i dont think MySpace is dead, only had a very bad management so far. if they dont try to be Facebook and focus on other lines they could be ok.

As a simple user i'm already bored to tears by Facebook.

Here is a free marketing plan for Justin, buy Jango and integrate it with myspace, every artist on the planet will join that site and every music fan will join it to.

Geez ^^ What is he up to now ? :-p

Woah Thats a news... he is serious when it comes to selling music i think ..LOL

He is a brand. With his purchase alone that can send bucket loads of traffic. To me with hios purchase the sites now worth $200m alone

Well, I heard that he had actually bought stocks - Not the actual company. I also read this topic this morning too. MySpace has devalued tremendously.

Timberlake was in the facebook movie maybe he got the internet itch.

Linkedin is the next big thing in social media.

Yes, kind of funny he was in the Facebook movie and now this.

When life imitates art.

I admit I am a Timberlake fan, as he's obviously ambitious and works very hard in many different areas of entertainment and now social media.

I think they know they can't compete with Facebook so they will come up with something completely different. Perhaps focusing more on entertainers and musicians, etc.

I am not optimistic for them but we will see. I don't really care, as a user, but if I hear more buzz in a few months I may go and see what changes they have created with MySpace.

Also, I wonder exactly how much money Timberlake himself put in to this. I'm sure he put in money he could afford to lose, as it could be quite the risky venture!

MySpace has only been good for music and NSA sex for years, and we can probably do without the latter.

There's no long time life for selfish things (MY+SPACE).

it is a good investment for now but mind you how much myspaces' worth has dropped so far...

it's quite scary if you think of the numbers but either way he'll soon cover that cost in advertising income...

guess facebook's on its way now haha