BEVERLY HILLS, California –
Singer, songwriter, and actor Justin Timberlake, who was a co-owner of Myspace, reportedly sold his shares of the company to a fan for one dollar yesterday afternoon.
The 33-year-old Timberlake said in a statement from his publicist Michelle Hendrickson, that he no longer felt that Mypsace was developing the cause for which he signed up for.
“Mr. Timberlake would like to thank all of his fans for support in his venture with Myspace, but he felt that his goal of bridging the gap between artists and fans was not being achieved,” Hendrickson said.
Myspace has steadily declined in popularity since Facebook has taken over social media in the United States, and every year the number of Myspace users has dropped off signifcantly. Timberlake bought into the company with hopes of reviving the once upon a time king of all social media.
“Justin feels that he let a lot of people down, and just wanted to get out from under this thing, so he decided to take a loss and sold his share of the company to a fan for whom he was signing an autograph for. He casually asked the fan if she wanted to buy his share of Myspace for a dollar, she laughed, and said yes. And Mr. Timberlake then set up a meeting with the fan and lawyers to make the deal. And the deal was made,” Hendrickson said. “To be quite honest, Justin is glad to wash his hands of Myspace. I mean, did you know that Myspace was even still around? If you think Google Plus is a ghost town, you should try logging into your old Myspace page someday. It’s like a relic or a time capsule or something.”
Timberlake’s share of the company was worth $15 million, according to financial experts, making the the new unknown owner the luckiest Timberlake fan of all time.