The startling news that MySpace was sold for $35 Million to a little-known digital firm based in Irvine - known as Specific Media - came as quite a shocker yesterday afternoon!
After all, in its heyday - Parent News Corporation (headed up by high-flying Rupert Murdoch) - once paid a whopping $580 million to get into the MySpace social-hub game a scant few years ago.
When Murdoch first negotiated the transaction (2005), MySpace was the fifth-most popular destination for web surfers on the net (a sure thing?) who were attracted to the glittering array of cutting-edge musical artists packing a wallop within the delicious confines within the site.
And, by 2007, MySpace was catapulted into the blogosphere to become the leading social network boasting 100 million users strong each month.
Staggering success at first blush, eh?
But, by October 2008 the axis of the musical universe went tilt up.
Since that time, the trendy mainstay on the Internet slowly began to slip, then eventually lost its grip.
Then, MySpace earnings dipped this past year to $184 million, to clearly signal a death knell.
So, it came as no surprise to industry-insiders when the word came down from on-high to "dump".
On the heels of the surprising purchase, there was still an optimistic note resonating (crying out?) at the MySpace site, though.
When Specific Media announced that Justin Timberlake had been brought on board to help salvage MySpace, a buzz streaked across the blogosphere because there was cause for celebration.
The Pop Icon - who negotiated a financial stake in MySpace with the new owners - is pretty upbeat about the social hub's latest incarnation (and chances for a full recovery).
"There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff, and just connect. MySpace has the potential to be that place," Justin underscored in a recent press release the past 24/7."
You betcha!
Justin, wanna be my friend?
http://www.thetattler.biz
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