MySpace Delays Relaunch Party

MySpace's new owners scrapped plans for a summer relaunch party because the revamp of the social-networking site is going more slowly than expected, insiders tells the Wall Street Journal. Justin Timberlake and Specific Media, who bought the site for $35 million in June, now plan to unveil the new, music-focused MySpace next month with a concert during New York City's "Advertising Week," the sources say. Only 33 million people visited the former social networking giant in August, down 44% from a year earlier. (More MySpace stories.)