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BEVERLY HILLS, California â. 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.
Myspace sold for $35m in spectacular fall from $12bn heyday. Five years ago News Corp bought it for $580m â then it was crushed by Facebook, leaving it at a fraction of its peak value. Myspace was in the vanguard of social networking but News Corp bought it just as Facebook was asserting its dominance.