Justin Timberlake Takes MySpace Ownership Stake and Strategy Role

Facebook Justin Timberlake MySpace Sean Parker Specific Media The Social Network

5:57 pm, June 29th, 2011

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(GettyImages.com)

Justin Timberlake is taking an ownership stake in MySpace.

The singer-actor, who starred as Facebook pioneer Sean Parker in The Social Network, will play a “major role in developing the creative direction and strategy” for the rival platform.

Specific Media, which today acquired MySpace from News Corp., made the announcement late Wednesday.

“There’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,” said Timberlake in a statement.

“MySpace has the potential to be that place.”

“Art is inspired by people and vice versa, so there’s a natural social component to entertainment. I’m excited to help revitalize MySpace by using its social media platform to bring artists and fans together in one community.”

“We’re thrilled about the opportunity to rebuild and reinvigorate MySpace,” said Tim Vanderhook, CEO of Specific Media. “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.”

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