Justin Timberlake Becomes Partial MySpace Owner

Justin Timberlake Becomes Partial MySpace Owner
Yesterday (June 29), we reported that struggling social media site MySpace was sold for a reported $35 million, a far cry from the $580 million that News Corp. bought it for in 2005. Now, the story has taken an amusing twist, with the revelation that Justin Timberlake is one of the part owners.

The pop giant, who was nominated for an Oscar was heavily buzzed about after portraying Napster founder Sean Parker in 2010's The Social Network, teamed up with Specific Media to buy the floundering company. The Associated Press reports that Timberlake will have his own office at the company's Beverly Hills office, along with his own staff, who will work "around the clock" to develop his ideas.

"There's a need for a place where fans can go to interact with their favourite entertainers, listen to music, watch videos, share and discover cool stuff and just connect," Timberlake said in a statement. "MySpace has the potential to be that place."

Though we wish he did, Timberlake didn't recite his classic "billion dollars" line from The Social Network, but we're guessing even he's not that optimistic about the future of MySpace.