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Loaded: Justin Timberlake and co. buy MySpace

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Loaded: Justin Timberlake and co. buy MySpace

2:56 /

Skype releases an updated app for Android that supports video chatting, hackers shut down al-Qaeda's online distribution of videos and statements, and Justin Timberlake takes an ownership stake in Specific Media as it buys MySpace from News Corp.

It's Thursday, June 30, 2011. I'm Wilson Tang on CNET.com, and it's time to get loaded. As we reported yesterday, MySpace is up for sale and it looks it's found a buyer in Specific Media. As part of the 35 million dollar deal, News Corporation will take a minority state in Specific Media and half of MySapce is 400-person staff will be cut, all better than the 30 million dollars we reported yesterday. It's still a far cry from the 100 million dollars then News Corp pointed and a huge lost would be 580 million dollars than can be spend to buy the social network in the first place. Ironically, Justin Timberlake who played Sean Parker in the Social Network Facebook movie is an investor in specific media. The HP TouchPad will be officially released tomorrow, and here at CNET, we got our hands on a review unit rather than use the Google android operating system, the new touchpad runs palm's web OS in addition to touchpad runs Adobe Flash has support for beats audio enhancements and an impressive third party counter messaging and e-mail services. Otherwise, CNET editors point out that the touchpad is much thicker than the iPad 2. It doesn't record HD video and has a limited selection of third party apps. Pricing starts at $499 for the 16 gigabyte version. Check our more extensive review at cnet.com. Skype has announced that its app for Android will now have video conferencing support. Skype for android 2.0 will be able to place and receive video calls with owners of android handsets as well as iPhone, Mac, Windows, PC, and other Skype platform. Calls can be placed over both Wi-Fi and 3G. In addition to the video chatting feature, Skype for android 2.0 has a brand new design with a new mood message box, so you can let you contacts know how you're feeling or what you're up to. Skype for Android 2.0 video chatting feature only works with the HTC Desire S, Sony Ericsson Xperia Pro, and Google Nexus S phones with more coming in the near future. In response to the negative massive outcry to Final Cut Pro X, Apple has released an FAQ that answer some questions but confirms that fears of some professional video editors. First the bad news, Final Cut Pro X will not have the ability to open Final Cut Pro 7 projects. In the good news, Apple says that it's committed to releasing and HTML export tool and support for multi-cam editing soon. In general, the company wants its users to know it hears and understands their concerns, but also wants Final Cut Pro X to embrace a new editing philosophy. Hackers have been in the news a lot these days and mostly for attacking corporations and governments and releasing private information, but it looks like they may be doing some good in the world as well. NBC news reports that hackers have temporarily shut down Al-Qaida's online distribution of videos and statements. So far, no one has claimed credit for that attack. Those are your headlines for today, I'm Wilson Tang for cnet.com and you've just been loaded.

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