Justin Timberlake Partnered With Specific Media to Buy MySpace

MySpace has only been receiving bad press lately, but hopefully that will change now that Justin Timberlake joined with Specific Media to buy it for $35 million from News Corp. Back in 2005, News Corp bought the site when it was popular for $580 million, but the website has since dwindled thanks to the new kids on the block (Facebook, Twitter, etc). Specific Media, the group buying it, is partnering with Justin Timberlake in hopes to revamp the website. Tim Vanderhook, the CEO of Specific Media, said, “We look forward to partnering with someone as talented as Justin Timberlake, who will lead the business strategy with his creative ideas and vision for transforming MySpace. This is the next chapter of digital media, and we are excited to have a hand in writing the script.” The sources weren’t given, as the deal is still in the works, but you can read more about the deal from an anonymous source here.