Printed from http://www.electronista.com

Specific Media to outline plans for MySpace today

updated 06:55 am EDT, Mon October 3, 2011

New MySpace owners to talk strategy today

Ad producer Specific Media, the new owners of MySpace, are set to outline their strategy to help rebuild the ailing social web service. "Future of MySpace Talk" will be hosted by Specific Media CEO Tim Vanderhook and is open only to "CMOs and senior marketers." Justin Timberlake, an investor in the Specific Media/MySpace deal, is expected to be on hand at the special event today.

As recently as last week, Specific laid off a small number of its staff. This was in order to help streamline its operations according to a statement issued by the company's COO Chris Vanderhook. The recent layoffs come on top of the recent halving of the number of MySpace staff from 400 to around 200 employees.

News Corp retains a five percent stake in the new ownership arrangements, but has made a massive loss on its investment in the website. When it purchased MySpace in 2005, it paid out $580 million. It had hoped to pull in $100 million on the sale, but still fell well short of even that mark.

The Specific Media event will start at 10.00am today, and will have a number of activities that will see it run through to 9.00pm tonight. On the event list is a special AMP'd UP opening concert, which is by invitation only. While it is not known if Justin Timberlake will perform at the concert, he will be involved in the "Future of MySpace Talk" outlining his vision for the renewal of the site. [via All Things D]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Epson WorkForce DS-40 scanner

In this day and age, there's a significant amount of pressure to go paperless, and downsize the amount of things that one collects ove ...

Sponsor

toggle

Most Commented

 
toggle

Popular News