MySpace (remember MySpace?) was brought back to the attention of the interwebs in late June when ol’ Uncle Rupert at NewsCorp sluffed it off to online ad firm Specific Media for $35 Million. That dramatically low purchase price, in light of the $580 Million NewsCorp paid for it in 2005, is the first morsel to chew on in this social soap opera. The second juicy tidbit is that uber-celeb Justin Timberlake wound up holding the ownership stake in MySpace at the end of the deal. Always nice to see a filthy rich superstar still shopping the sale rack.
At this point in time, no one can question Timberlake’s creative talent or his global popularity. Even if his work does not fit your personal taste, his brand power is undeniable. This certainly is a motivation for Specific Media to make him their Top Friend in this venture, and must have them more eager than anyone to discover the answer to the $35 Million question: can Justin Timberlake make MySpace cool again?



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