Justin Timberlake takes a stake in Myspace
Myspace’s new owner, Specific Media, said Wednesday that Emmy- and Grammy-Award winning artist Justin Timberlake will take an undisclosed stake in the newly acquired company.
Timberlake will play a major role in developing the strategy and creative direction of Myspace, according to Specific Media. Both parties plan to unveil details of Myspace’s new direction later this summer.
“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to … Continue Reading
Specific Media acquires Myspace for $35 million
Myspace’s parent company News Corp. has sold the social networking site for $35 million to Specific Media, reports All Things Digital.
The deal will pay out a mix of cash and stock to Specific Media, an online advertising company, with News Corp. retaining about 5 percent of Myspace, according to the report.
Significant cuts to Myspace’s 400-employee staff are expected to follow the sale, according to sources within the company. CEO Mike Jones and other … Continue Reading
News Corp. finalizing $30M sale of Myspace
Myspace’s parent company News Corp. is in the final stages of selling the under-performing social network for $20 – $30 million, reports All Things Digital.
News Corp. is apparently in a rush to complete an acquisition deal by Thursday — its fiscal year-end. The media giant probably doesn’t want MySpace to blemish its 2012 financial records, especially given the lackluster revenue predictions.
Backing up earlier information, the report indicates that significant cuts in staff and … Continue Reading
Myspace laying off 150 employees ahead of company’s sale?
The once great social networking site Myspace is expected to make big cuts to its employee ranks Wednesday, reports Gawker.
TechCrunch later confirmed with sources inside Myspace that the company is laying off at least 150 (37.5 percent) of its 400 remaining employees– with another 150 employees possibly being put on a transition plan while looking for new jobs.
In January, Myspace cut 47 percent of its staff as part of the social networking site’s … Continue Reading
Week in review: Apple's Wozniak speaks on white iPhone
Here’s our roundup of the week’s tech business news. First, the most popular stories that VentureBeat published in the last seven days:
Apple’s Wozniak notes white iPhone 4 camera issues, showers more love on Android — The Apple cofounder said this week that early white iPhone 4 parts caused issues with its camera, which led to multiple delays and its near-mythical status among gadget hounds.
Verizon halts iPhone pre-orders due to huge demand — Well … Continue Reading
WSJ: TechCrunch's MySpace censorship claim 'ridiculous'
The Wall Street Journal is fighting back against an article today by TechCrunch’s Michael Arrington (pictured) that claims the newspaper pulled its punches when examining whether or not online social networks were inappropriately leaking personal information about users to advertisers.
TechCrunch had claimed that in a recent series on how Facebook and other social networks handled privacy breaches, the Journal had left out one notable exception as of Friday afternoon—its sister company, MySpace. (Both are … Continue Reading
