Hey MySpace Employee: Justin Timberlake Just Fired You

After much speculation, MySpace is sold--apparently Justin Timberlake teamed up with Specific Media for the $35M purchase. It's the latest breaking bits from our news-obsessed editors.

SexySpace. MySpace CEO Mike Jones makes the sale of the company to advertising network Specific Media for $35 million. And then reports surface that Justin Timberlake teamed up with Specific on the purchase. The SexyBack singer said in a statement:

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 placet.  Art is inspired by people and vice versa, so there's a natural social component to entertainment. I'm excited to help revitalize Myspace by using its social media platform to bring artists and fans together in one community.

 

The staff of 400 is expected to be cut in half, All Things D reports. "Over the next few days you will be hearing from the team at Specific, including their CEO, Tim Vanderhook, regarding their exciting plans for Myspace and how it fits in with the overall vision of their company," Jones said. Note to MySpace employees: That vision does not involve 50% of you. Upshot: No one will every fire you as sexily as J-Tims. --TG

--Updated 5:28 p.m. EST

Radical.FM Goes Public. Just the other day we wrote about how Radical.FM is trying to shake the Net radio tree by being a be-all and end-all solution to the different ways to stream music online...and today the team is ready to take the show public. It's a beta test environment, and you're only allowed in if you're in the U.S. (Radical Indie is for the rest of the world later). And as a sop to the music industry, Radical even asks you not to use it to steal music! Now...where's that mixtape app? --KE

--Updated 1:50 p.m. EST

Franco: Dissolved. Pu pu platter of creativity James Franco is going for the Guinness Record for the longest running art prank. Kalup and Franco, his actual musical duo with performance artist Kalup Linzy, has put out a video. It is awesomely bad. The secret show in a dumpster in back of an illegal hostel in Bed-Stuy is already sold out. --TG  

--Updated 12:53 p.m. EST

[Image: Flickr user oceandesetoiles]

Square Raises $100M, Now Worth A Billion. In its latest funding round led by Kleiner Perkins, mobile payments solution Square just raised $100 million in venture cash. This quadruples the previous value of the company to an eye-popping billion dollars. Is Jack Dorsey's tiny credit card dongle and ecosystem really worth what amounts to a decent portion of Greece's bailout cash? Or is it a symptom of a bubble? --KE

RIM Ditches 10-Inch PlayBook Tablet? A dramatic rumor has it that RIM has already scrapped its 10-inch PlayBook tablet PC effort, in order to better direct its staff's time and innovative powers to developing the smartphone version of the device--the QNX-powered handset that's expected to challenge the iPhone better than a BlackBerry OS has been able to. Some PlayBook work is continuing on the 4G LTE version expected in October, likely because this will operate in a space Apple's iPad isn't yet selling in. But it's not a good sign for RIM. --KE

Social Browser Rockmelt Earns $30M Venture Cash. "Social" browser Rockmelt hasn't exactly raked in millions of fans, but that hasn't stopped the firm from raking in venture cash. Accel Parnters, Khosa Ventures (and a bunch of others including Andreessen Horowitz) can evidently divine a potent future for Rockmelt's tech, and have forked over $30 million in Series B funding. Now speculation is centering on potential interest from Facebook. --KE

Angry Birds Hits Windows Phones. Here's a glimmer of a potentially promising future for MS's smartphone platform ... because incredible runaway casual gaming hit Angry Birds is a big affair, and if makers Rovio have plonked it on Windows Phone 7 devices, then that bodes well for MS. There're just two issues: The multiple delays before it arrived hint at backstage complications of some sort, and the fact it costs $3 compared to much less on other platforms. Will WP7 apps always cost more? --KE

--Updated 7:30 a.m. EST

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