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Media Watch: Justin Timberlake Tackles Myspace, Kindle's Lending Library, News Corp. Profit Dip

Thompson on Hollywood By Maggie Lange | Thompson on Hollywood November 3, 2011 at 4:37AM

Life imitates art: musician/actor Justin Timberlake, who played a media mogul in Aaron Sorkin's The Social Network, is set to revive the hulking mess of MySpace. He purchased an ownership share in the social media site in June of 2011 and just recently acquired an office and a staff of six to help him with the revamp. Timberlake wants to turn the website into a hub for musicians, entertainers, and fans to explore new content and connect over their favorite music.
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Thompson on Hollywood

Life imitates art: musician/actor Justin Timberlake, who played a media mogul in Aaron Sorkin's The Social Network, is set to revive the hulking mess of MySpace. He purchased an ownership share in the social media site in June of 2011 and just recently acquired an office and a staff of six to help him with the revamp. Timberlake wants to turn the website into a hub for musicians, entertainers, and fans to explore new content and connect over their favorite music.

- Amazon is launching Kindle Owners' Lending Library for Amazon Prime members, who can rent one digital book per month, with no due date. The library offers over 5,000 titles, including 100 New York Times best-sellers, reports Mediabistro's Galley Cat, from Suzanne Collins' The Hunger Games trilogy to Sara Gruen's Water for Elephants.

- Even with advertising gains on its broadcast and cable channels, News Corp.’s profits fell from $775 million to $738 million because of recently instituted special charges, reports B & C. News Corp. reports that without these charges, which include a restructuring charge for its UK newspapers, the net profits would have increased from last year. This fall in profits shows that the U.K. newspapers are still feeling repercussions from the phone-hacking scandal.

- A new set of layoffs at the L.A. Times may downsize about a dozen employees when the news operations, design, and Web operations departments are merged, reports LA Observed.

- Columbia Journalism Review names Cyndi Stivers as their new editor-in-chief. Previously, Stivers served as the managing editor of EW.com, the hugely popular website for Entertainment Weekly, was founding president of Time Out New York, and was on the team that launched late lamented movie magazine Premiere.

This article is related to: Hollywood, Web/Tech, Media, Media, Marketing, MySpace, Amazon


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Born and raised in Manhattan, Anne Thompson grew up going to the Thalia and The New Yorker and wound up at grad Cinema Studies at NYU. She worked at United Artists and Film Comment before heading west as that magazine's west coast editor. She wrote for the LA Weekly, Sight and Sound, Empire, The New York Times and Entertainment Weekly before serving as West Coast Editor of Premiere. She wrote for The Washington Post, The London Observer, Wired, More, and Vanity Fair, and did staff stints at The Hollywood Reporter and Variety. She eventually took her blog Thompson on Hollywood to Indiewire. She taught film criticism at USC Critical Studies, and continues to host the fall semester of “Sneak Previews” for UCLA Extension.