MySpace back? @JTimberlake and advertising network Specific Media have just closed the deal to acquire Myspace for $35 million. Justin Timberlake will take an ownership stake and develop the strategy and creative direction for Myspace.

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. MySpace has the potential to be that place. Art is inspired by people and vice versa, so there’s a natural social component to entertainment.

Although its clear that the focus will be on Myspace’s music features, Justin and Specific Media aim to make it the place to go for original shows and videos in addition to music. They also plan on launching socially-activated advertising campaigns, which would let users share their favorite ads with friends. I think they got this at a steal…

Previously: Game ft Justin Timberlake & Pharrell – Ain’t No Doubt About It

@JColeNC is one of the new characters in the upcoming NBA Jam game. I remember playing that game on my Sega Genesis until the next morning. This version looks a little animated but I like that it has some sick looking dunks. who. want. what!

Previously: J.Cole announces Fall 2010 tour dates

Woooow. This is an amazing looking whip @Birdman5star just copped. I wonder what the wait-list for this was? The Bugatti Veyron’s top end speed is 253 mph and Birdman just kicked it into high gear…

Previously: Swizz Beatz To Reveal Christian Louboutin Exotic Skin Sneaker for Drake’s Fancy Video

This iPhone 4 is going to be hot. I can’t wait to use the video phone calls…

Previously: Michael Jordan to appear on the cover of NBA 2K11

Proving once again that Michael Jordan is still one of the most powerful names in sports marketing, the Charlotte Bobcats majority owner will appear in the upcoming NBA 2K11 cover. The video game will hit stores Oct 5. Michael Jordan had this to say:

It’s an honor to be featured on the cover of NBA 2K11. I have no doubt that NBA 2K11 will be a big hit with gamers and basketball fans alike. I’m looking forward to getting back out on the court, virtually.

Who want what? I got Xbox 360 though lol…

Some employee lost his phone at a bar (figures) and Gizmodo bought it for $5 G’s. Check out the leaked video. It looks like an ice cream sandwich but you know the software will probably be killer. Please let it have a battery that can last 24-48 hours. That’s all that I will ask for lol.

Here are the new specs:

• Front-facing video chat camera
• Improved regular back-camera (the lens is quite noticeably larger than the iPhone 3GS)
• Camera flash
• Micro-SIM instead of standard SIM (like the iPad)
• Improved display. It’s unclear if it’s the 960×640 display thrown around before—it certainly looks like it, with the “Connect to iTunes” screen displaying much higher resolution than on a 3GS.
• What looks to be a secondary mic for noise cancellation, at the top, next to the headphone jack
• Split buttons for volume
• Power, mute, and volume buttons are all metallic
• The back is entirely flat, made of either glass (more likely) or ceramic or shiny plastic in order for the cell signal to poke through. Tapping on the back makes a more hollow and higher pitched sound compared to tapping on the glass on the front/screen, but that could just be the orientation of components inside making for a different sound
• An aluminum border going completely around the outside
• Slightly smaller screen than the 3GS (but seemingly higher resolution)
• Everything is more squared off
• 3 grams heavier
• 16% Larger battery
• Internals components are shrunken, miniaturized and reduced to make room for the larger battery

Previously: First look at the Playstation Move

Sony is not going to let Nintendo take over the market that easily. Sony is getting ready to launch the PlayStation Move, a motion controller that aims to dethrone the Wiimote with what they consider to be a much more accurate controller. The Move works with the PlayStation Eye camera and a sub-controller just like the Nintendo Nunchuk and will be droppin late 2010.

The iPad is mind-booglin when you see it in action! How far we’ve come in technology. This is the future of personal computing. I can’t wait to cop this.