In David Fincher's The Social Network Justin Timberlake plays internet entrepreneur Sean Parker who was involved in the creation and early success of Facebook.

In real life Justin Timberlake plays an internet entrepreneur (also called Justin Timberlake) who has, along with ad agency Specific Media, bought out Facebook's one-time rival MySpace.

The figure for the buyout is $35 million - a whopping $545 million less than Rupert Murdoch's News Corp payed for the social network back in 2005.

The one time undisputed king of the online social world (with 300m registered users making it the top ranked social network from 2006-2008) has seen a dramatic fall in popularity during the Facebook boom years - its active users now stands at just 35 million.

MySpace had tried to reinvent itself as of late as a music-orientated platform and it seems that JT wants to continue down that path.

“There’s a need for a place where fans can go to interact with their favourite entertainers,” he said. “I’m excited to help revitalise MySpace by using its social media platform to bring artists and fans together.”

Its expected that jobs will continue to be slashed at the Beverley Hills based company, with the numbers to come down to 250 - a long way from the 1,500 employees it had just two years ago.

MySpace - SexyBack or no way back? Let us know what you think....