Myspace sold

Myspace has a new owner.. advertising network operator “specific media.” and Justin Timberlake.

bought the the social media website from News Corp. for $35 million.

That is a fraction of the $580 million News Corp. paid for the site just six years ago.

But since then, its users and advertisers have departed for other networks like Facebook and Twitter.

Timberlake says it has the potential to be a place where people can interact with their favourite entertainers.