MySpace bringing the Sexy Back

The long saga of Myspace has taken an interesting turn. It's only been bought by Justin Timberlake!

Well, sort of. The ailing social network has been on the chopping block for some time now, after a big relaunch last year completely failed to stem sliding user numbers (apparently everyone's hanging out somewhere called 'Facebook'?). And it's just been announcedthe site has been bought for £22 million by Specific Media, an advertising company, and a 'strategic partner'. That partner and co-investor? The trousersnake himself, Justin Timberlake.

The former Mr Britney Spears has taken an 'ownership stake' in the company, though the exact numbers aren't known, Specific Media confirmed. They say he'll 'play a major role in developing the creative direction and strategy for the company moving forward.'

The new owners' first act was to fire CEO Mick Jones, who graciously responded by tweeting congratulations to Timberlake.

Why on earth would an up-and-coming actor like Timberlake want to be associated with a down-and-out social network? '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. Myspace has the potential to be that place,' he says.

Hmm. Well, maybe. I guess at least MySpace might seem like a bit of a bargain - Rupert Murdoch's News Corp paid a whopping £362 million for it back in 2005. We bet Rupert is Crying Us A River right now...

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