Justin Timberlake Backs Myspace Acquisition

Irvine-based Specific Media, the Internet advertising network run by Tim Vanderhook, has released further details on the company's acquisition of Myspace, saying that Justin Timberlake is taking an ownership stake and major role in the acquisition. According to Specific Media, Timberlake and the firm will unveil their vision for the site later this summer. The company said that Timberlake will play a major role in developing the creative direction and strategy for MySpace, with a plan to "revitalize Myspace", including making the site a "premiere digital destination" for original shows, video content and music.