Monthly Archives: June 2011


News Corp. (NWSA) agreed to sell Myspace to Specific Media Inc. for a fraction of what it paid six years ago, ending its efforts to turn around the money-losing social networking business.

News Corp. will receive $35 million, including a 5 percent stake in Specific Media, according to a person with knowledge of the situation who wasn’t authorized to speak publicly. Specific Media announced the sale in a statement today, without providing the terms.

The accord rids News Corp. Chairman and Chief Executive Officer Rupert Murdoch of a website that lost its lead in social networking to Facebook Inc. after being acquired in 2005 in a $580 million deal. The company had sought about $100 million for Myspace after Chief Operating Officer Chase Carey said in February he wanted a deal completed by the June 30 end of the parent company’s fiscal year.

More on the history of MySpace click here

Nike Sold 500,000 LeBron Shoes Last Year
spotted: NBC
“Nike says it sold more than 500,000 pairs of LeBron shoes this year.”

All those shoes Nike sold underscore the strength of James’ brand. Despite turning much of America against him after his controversial Decision to team up with Dwyane Wade and Chris Bosh in Miami, James remains a endorsement giant.

In April, the NBA announced James’ Heat jersey was the top seller at for the 2010-2011 season. A month later, James rose to the 10th spot in Forbes’ “Celebrity 100” ranking, the highest position on the list of any basketball player and second only to Tiger Woods among athletes.

James’ marketing might figures to only get stronger as Nike expands its position in China, the world’s fastest-growing consumer base.

He still hasn’t won an NBA title, and may never pass Michael Jordan as one of the NBA’s greatest players, but LeBron James can at least make a compelling argument that in terms of merchandising, he’s already become the next Jordan.

spotted: RollingStone

A black and red leather jacket worn by Michael Jackson in the music video for “Thriller” sold for $1.8 million at an auction in Los Angeles on Saturday, two years after the singer’s death.

The buyer, a Texan gold trader named Milton Verret, says he plans to use the iconic jacket to raise money for children’s hospitals around the world. Verret already has plans to display the jacket at the Dell Children’s Hospital in Austin, Texas.

Two versions of the jacket were made for the video. This version, with winged shoulders, was autographed by the late singer. Another version, which is scuffed from more intensive wear, is owned by the Michael Jackson estate.

“MJ gone, My n*gga Dead”

Kanye West

On this date in 2009, American singer Michael Jackson died of acute propofol intoxication after he suffered cardiac arrest at his home in the Holmby Hills neighborhood in Los Angeles, California.  Michael Jackson was the greatest and most successful entertainer of all time, often referred to as “The King of Pop”  His legacy will live forever through his music.


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