Know one will argue that Justin Timberlake knows music, and it looks like he's out to save the failing social networking site Myspace.

Timberlake wants to transform Myspace into a music hub, and he believes it will be bigger than iTunes, Spotify, and Vevo. According to senior VP of global marketing Al Dejewski:

"No other music destination online today can claim the breadth of partnership we have with the four major music labels in addition to the tens of millions of independent artists and the libraries of their songs."

Myspace has hired two branding agencies to find celebs to help promote the site, and they will soon be launching a campaign targeted at both new and dormant Myspace users.

It will be intresting to see if JT can save the ailing site.