Timberlake Takes Stake In Myspace

Timberlake Takes Stake In Myspace
Following yesterday's report regarding Specific Media's acquisition of Myspace, GRAMMY-winning artist Justin Timberlake is taking an ownership stake in the social media platform, according to Billboard.biz. While details regarding the future of the company are expected to be revealed at a press conference later this summer, Timberlake is expected to play a key role in Myspace's future strategy. In a press release, both parties stated they plan "to evolve Myspace into the premiere digital destination for original shows, video content and music." In related news, yesterday Myspace cut more than half of its staff of approximately 450 employees. (6/30)

Falco Named Univision President/CEO
Spanish-language media company Univision has promoted current COO and Executive Vice President Randy Falco to President/CEO, replacing former President/CEO Joe Uva, according to Billboard.biz. This year's 12th Annual Latin GRAMMY Awards will once again air live on the Univision Network from 8–11 p.m. ET/PT (7 p.m. Central). In related Latin news, Latin GRAMMY-winning songwriter Claudia Brant and Miguel Angel Romero were honored at the 2011 SESAC Latina Awards on June 29 in Los Angeles. Brant won the No. 1 Billboard Award for her song "Lo Mejor De Mi Vida Eres Tú" performed by Ricky Martin featuring Natalia Jiménez, and Romero earned Songwriter of the Year honors. (6/30)

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