For $35 million, mostly in stock, Specific Media acquired Myspace, for a "garage sale price," wrote The Wrap. Specific Media, an advertising network, used Justin Timberlake as their hook, said their CEO in an interview. The pop star, actor and modern fedora-wearer agreed to play a “major role” in fostering the creative direction for the company, which he prepped for playing a savvy internet mogul in The Social Network. Specific's new strategy for MySpace will be to organize users around their interests, like music, rather than their social life.
- By Anne Thompson and Maggie Lange
- June 30, 2011 5:03 AM
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