MySpace, Panasonic Unveil Social TV Service

Social entertainment site Myspace, which is now owned by Irvine-based Specific Media, is making a big push this week at CES, and launched a new, social TV service with Panasonic Monday. In a launch event which featured Justin Timberlake, Panasonic and Myspace said they are launching a new service called MySpace TV, which allows television viewers to discover, share, and comment on television programs. The service--which takes advantage of Myspace's library of music videos and songs--runs on Panasonic's VIERA Connect enabled HDTVs. The new service will also be expanding to include movies, news, sports, and reality channels. The new service ties the social features of MySpace with traditional television viewing. The new service is part of a revamp of Myspace by Specific Media, since it acquired the former high flying social networking site for a mere $35M last year. Since then, Vanderhook and his team--along with Timberlake--have been looking to transform Myspace from a has-been social networking site to a rejuvenated, entertainment and music focused social hangout.