Justin Timberlake will take an ownership stake in recently re-sold MySpace and help develop it as a source of original entertainment.
The social networking site has been gathering dust since the growing ubiquity of Facebook, and has just been sold to ad network Specific Media for $35 million from News Corp, who bought the site in 2006 for $580 million.
Specific Media have teamed up with pop star and actor Timberlake in an effort to "rebuild and reinvigorate" the waning site.
Timberlake said in a statement, “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. 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.”
Ergo, the company want to change the focus to original entertainment – music and videos, and will also implement “socially-activated advertising campaigns” where users can disseminate their favourite advertisements.
VIDEO: Check out our chat with early online sensation Lily Allen below.
