Posted on Wed Jun 29, 2011 04:15 PM PDT
Justin Timberlake starred in The Social Network, the movie about Facebook, but it was announced Wednesday that he will take an ownership stake in MySpace and help revamp the site.
Timberlake will " ... play a major role in developing the creative direction and strategy for the company moving forward," said a press release. The plan for the site, which was sold today by News Corp to Specific Media for $30-40 million (well below its $100 million asking price), is to hone its focus on music.
"Thereâ€™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," Timberlake said. "MySpace has the potential to be that place."
News Corp bought MySpace for way more back in 2005 ... see how much they paid after the jump!
News Corp purchased MySpace for $580 million in 2005 -- before Facebook left it in its social media dust.
Now, after today's sale, half of MySpace's 500 employees will be let go.
Justin Timberlake Hides Under His Hoodie At The Movies - Jun 11, 2012
Justin Timberlake Gets His Pearly Whites Shined - Jun 02, 2012
Justin Timberlake Brings The Hula Back, At Walmart Shareholders' Meeting - Jun 01, 2012
Justin Timberlake Cruises In His Classic Car With Mystery Brunette - May 23, 2012
Jessica And Justin Step Out For First Post Engagement Black Tie Affair - May 08, 2012