Justin Timberlake May Bring New Talent Competition to MySpace

Last week, it was announced that former 'N Sync star Justin Timberlake will be involved in bringing the ailing web site MySpace back.  Now, according the The Hollywood Reporter,  the star and his long time manager Johnny Wright are rumored to be making plans for a new talent competition through the social networking site. 

"Whether it becomes a talent competition or something like that, those are things that we will still flesh out," said Wright, who added that their plans will be finalized in time for a Aug. 17 press conference. "We definitely want to bring the industry back to MySpace to really look at the talented people that have put their faces there."

MySpace, originated in 2003, before the emergence of the social networking giant Facebook.  It quickly became a site for up and coming bands and musicians to showcase their talents. Timberlake, who now has a minority stake in the site,  hopes to work with its new owners, Specific Media, to return the original focus back to music. 

"There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect," Timberlake said in a statement last week. "MySpace has the potential to be that place ... I'm excited to help revitalize MySpace by using its social media platform to bring artists and fans together in one community."