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Justin Timberlake Buys MySpace!


Parsad
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The deal is for $35 million, mostly in Specific Media stock, according to a person familiar with the matter. That's a small fraction of the $580 million that News Corp. paid for the site six years ago. The sale resulted in the layoff of about half of the site's remaining 500 workers, said the person, who was not authorized to speak publicly and spoke on condition of anonymity

 

 

Large media companies have shown time and time again that they will constantly make bad tech acquisitions.

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