Just when you thought MySpace was six-feet under, Justin Timberlake brings the name "MySpace" back to the surface. The singer/actor has taken a minority stake in MySpace, which was acquired by Specific Media on Wednesday. The struggling social media networking site was sold to News Corp. for $35 million. 

"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," said Timberlake in a statement. The pop icon said that he is really excited to help revitalize MySpace and that he hopes to bring fans and artists closer together through this social media.

While it has not been reported, sources close to the The Hollywood Reporter say that Timberlake did contribute financially to this joint effort/project.
The question now is, can Timberlake and his partners really revitalize MySpace? As popular as Facebook and Twitter are these days, will we all adopt yet another social media network? While it remains to be seen, I'd say good luck to MySpace. It was once the cool thing, but it is no where close to being the "thing to do" these days. However, if they take an alternative route, perhaps they may be room for yet another social media site. What you think?