The singer turned actor, who starred as Facebook investor Sean Parker in the Hollywood hit The Social Network, took a stake in Myspace along with the online advertising company, Specific Media. Myspace has shed billions of dollars from its price tag since it was dethroned as the dominant social network in In an interview with AdAge , Vanderhook said Timberlake, 30, had put his own money into buying Myspace, but refused to disclose how much. He confirmed that the former N Sync singer will have an office in Myspace but that he was "probably not going to be there every day". Asked whether he thought Timberlake had been inspired by his star turn in The Social Network, Vanderhook said: "I don't think it was so much that — that was just ironic. He's really passionate about how can he create a better community.
Justin Timberlake buys his own social network with Myspace investment
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It could be the ultimate admission of defeat, or, a pretty smart move given its current strategy. According to The Telgraph , MySpace is currently discussing a partnership with Facebook where music and video content published to MySpace could easily be shared on Facebook via Facebook Connect. MySpace has one of the best catalogs of music and videos on the Web. Allowing users to share them on Facebook — far and away the most popular social network - would increase distribution for this content, and potentially get Facebook users to re-consider MySpace as a content portal and not a dying social network.
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