After months of rumors, Fox Interactive Media has finally sold MySpace -- and one of the troubled social networking site's new owners looks very familiar.

Turns out that aside from his budding career as a film star -- which is soaring as he takes a hiatus from his career as a multiplatinum recording artist -- Justin Timberlake is also working with Specific Media, the company that just picked up MySpace for $35 million in cash and equity (a steep drop from the $580 million that Fox paid in 2005).

As part of the deal, Timberlake was named creative director -- and part-owner -- of MySpace, the first step in a new initiative for the site that the company intends to announce later this summer. For now, he said, "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."

Ready to log back into your dusty old MySpace account yet?

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