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Wax Trax! Records & Opinions on Beyoncé

Music News

Everyone loves a steal, even corporations. Specific Media recently got quite a deal in procuring MySpace. News Corp. purchased the website in 2005 for $580 million; now they‘ve unloaded it for $35 million. It’s proof that MySpace doesn't have the cultural cache it once did. But Justin Timberlake is doing his best to fix that. The pop singer and actor (who incidentally portrayed Facebook's Sean Parker) will work with the new owners to“rebuild and reinvigorate”the site. But websites are like reality stars – it's rare to get more than fifteen minutes of fame.

Speaking of cheap deals, pop music is anything but. Planet Money recently tallied the costs that went into making Rihanna's "Man Down" a hit. Between the big name songwriters, producers and expensive promotion, the dollar amount comes to $1,078,000. As Greg explains, this is nothing new. Record companies were spending this kind of dough twenty years ago. But at that time the returns were much greater. To spend a million on a song that might make two to three million? The math doesn't add up.