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Justin Timberlake Becomes Part-Owner of MySpace

 

Yep, you read it right, Justin Timberlake is not only into acquiring real estate properties and sprucing up his acquisitions, he is into buying out dying businesses as well.

His role in the movie, ‘The Social Network’, must have made quite an impression on him as far as the ins and outs of the business is concerned that he has made himself a part of the group that bought out failing social network site, MySpace.

Timberlake joined Specific Media in buying Facebook’s downtrodden rival, MySpace, from News Corp. in a $35 million deal that closed Wednesday.

According to Specific Media CEO Tim Vanderhook, part of Justin’s ‘perks’ is that he will have an office at MySpace’s Beverly Hills headquarters and a staff of about a half dozen people working for him “around the clock” developing his ideas for the site.

The partners are set to unveil their plans for reviving MySpace as a haven for artists in a couple of months.

Vanderhook was quoted by the Associated Press saying, “When we met with Justin and we discussed what our strategy was, we hit a chord with him…One of his passions is he really enjoys helping other artists and creating a community for people to really express themselves. I think we were blown away that we were able to get someone like Justin to be so excited about what we were doing.”

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