Pop star Justin Timberlake is part of a group that said Wednesday it will buy MySpace from News Corp., a bid to add some cool to a social network that has been losing it for some time. 
Timberlake will become a part owner and play “a major role in developing the creative direction and strategy for the company moving forward,” according to Specific Media, the company that he will partner with.
The deal is for $35 million, mostly in Specific Media stock, according to a person familiar with the matter. The deal values MySpace at a fraction of what News Corp. paid for the site six years ago and paves the way for the layoff of about half of the 500 workers, the person said. As part of the exchange, News Corp. will receive a private equity stake in Specific Media.





In the build-up to the last December’s release of Tron: Legacy, it was abundantly clear that Disney was hoping to kickstart a new franchise after the original Tron laid dormant for almost two solid decades. Provided that the sequel performed up to par, director Joseph Kosinski seemed likely to return, along with screenwriters Edward Kitsis and Adam Horowitz. After six months with little to no movement on another adventure in the Grid, Disney has hired a new writer, David DiGilio, to tackle a hypothetical third Tron film.