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The Morning Fix: Can Justin do what Rupert couldn't and fix Myspace? 'Transformers' off to solid start.

June 30, 2011 |  6:51 am

After the coffee. Before the NBA lockout.

The Skinny: Once again a big holiday is upon us and once again much of the working world has already checked out. That's fine with me. In the news, News Corp. can celebrate freedom from having to talk about Myspace ever again and the latest "Transformers" is off to a strong start.

From Rupert to Justin. Rupert Murdoch's News Corp. finally unloaded fading social networking site Myspace to a marketing company called Specific Media for $35 million. Among those who will try to fix Myspace is singer/actor Justin Timberlake, who will have a stake in the company and offer guidance on how to make it cool again. News Corp. bought Myspace for almost $600 million in 2005. But while the site was hot then, it cooled quickly as News Corp. failed to find a direction to broaden it at the same time Facebook emerged to challenge and subsequently destroy it. More on Myspace's fate from the Los Angeles Times, Wall Street Journal and TechCrunch.

Transforming box office. What did H. L. Mencken say about the American public? Oh, never mind. "Transformers: The Dark of the Moon" (doesn't it seem like they're missing a word there?) is off to a strong start at the box office and is poised to dominate the July 4th weekend. Details on its opening numbers from the Los Angeles Times and Deadline Hollywood.

Falco soars. Randy Falco, a former top executive at NBC, has been promoted to chief executive just a few months after joining Spanish-language broadcaster Univision. Falco is replacing Joe Uva, who was pushed out earlier this year. Coverage from the Los Angeles Times and Hollywood Reporter.

What, me worry? A new study says the cable industry doesn't have anything to fear about consumers cutting the cord and getting their entertainment elsewhere. Why are visions of Kevin Bacon in "Animal House" telling a violent crowd to "remain calm!" and "all is well!" running through my head. More from the Philadelphia Inquirer, the home paper of Comcast, the nation's largest cable company and industry trade Multichannel News.

Inside the Los Angeles Times: John Horn on the tough weekend Tom Hanks and Julia Roberts are facing.

-- Joe Flint

Follow me on Twitter for reporting, not regurgitation. Twitter.com/JBFlint

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