(Image Source: VentureBeat)

BY DANNY MATTESON

ANCHOR MEGAN MURPHY

Justin Timberlake must really enjoy bringing things back.  Former target -- sexy.  Latest target? Myspace.  

Taking the stage at CES 2012, Timberlake announced the company, which he co-owns, will be teaming up with Panasonic for a new service dubbed ‘MyspaceTV.’

“...with this exciting partnership with Myspace and Panasonic we’re ready to take television and entertainment to the next step. By upgrading it to the social networking experience.”

So how do they plan to do that? According to SlashGear the service will let...

“...users interact differently while watching TV by talking to friends or sharing videos. While watching live TV you can use your laptop, tablet or even the TV screen to talk with others.”

But, despite its name, MyspaceTV reportedly won’t start with television programming -- instead focusing on media it’s a little more familiar with. PC Magazine reports...

“The service will focus on music at first, with music channels on Myspace TV using the company's rights to 100,000 music videos and 42,000,000 songs. ... It will be expanded to television and movies, with additional channels featuring news, sports, and reality TV.”

And VentureBeat adds the techy team-up might be just what the struggling social company needs...

"The partnership is potentially a reinvigorating shot in the arm for Myspace, whose revenues and membership numbers have been in steady decline for several years, as competing social networks Facebook and Twitter have surged ahead despite having a later start.”

Myspace TV is expected to make its debut in the first half of 2012 on Panasonic’s Viera HDTV line.

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