MySpace was bought by Specific Media from News Corporation

June 30, 2011 - PRLog -- It is reporting that MySpace gave pink slips to more than half of its base of 450 employees on Wednesday. Compare that to when MySpace employed 1,400 people as of two years ago, and its easy to picture just how steeply this company has fallen.

After trimming the workforce down, it appears this social network has brought in singer and actor Justin Timberlake. This time, Timberlake won’t be playing a part but rather given a minor stake in the company. He will also be employed to revamp MySpace’s direction and brand.

A popular spokesperson is an often-used gimmick, but there are plenty of skeptics who wonder what Timberlake could really do to save MySpace at this point. AllThingsD’s Kara Swisher puts it plainly: “Maybe they should focus on making products the star first.”
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As for what that direction might look like, Specific Media CEO Tim Vanderhook told the WSJ that he wants MySpace to evolve into a “digital media company on par with Yahoo, AOL, Facebook and all the other big names out there.”
I love it when the Industry collaborates to make my job easier. In the same 24-hour period, Google announced a new, hugely-ambitious social networking hub and NewsCorp announced that they had finally found some poor sucker willing to take MySpace off their hands at a fraction of their asking price and a fraction of a fraction of what they originally paid for it six years ago.

So step up to the platform, Google+. Feet on the “X”, please, and keep your arms at your sides so you don’t break them when (If!!! Sorry, slip of the tongue) the trapdoor releases.

I mean, I could end this column right here and get at least a C-. The MySpace sale lends the necessary skeletal Ghost Of Christmas Future vibe that permeates with all social networking ventures. MySpace was once the Google of its category. The company’s inability to respond to the popularity of up-and-comers Facebook and Twitter and Tumblr quickly turned it into AskJeeves.

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