MySpace's new owner, Specific Media, has been pitching with investor Justin Timberlake this week, with the ultimate goal to make the product the "number one online community music destination."

The product will be centred around music and "feeding the energy of youth culture" in order to increase value for consumers. Additionally, the site hopes to:

- Simplify navigation
- Eliminate clutter, non-core features and adverts
- Host exclusive content
- Re-engage lapsed audiences
- Return artists who share and curate ...