Mark Zuckerberg announced late Friday evening that Facebook would be purchasing onetime social media rival MySpace.

In response to confused shareholders’ concerns, Zuckerberg stressed that the action was not an indication of bad judgement.

“I mostly just thought it would be funny,” said Zuckerberg to a crowd nodding in agreement. “And it’s not like we’re going to really miss the three grand.”

Zuckerberg did point out one way the purchase could yield profit, a strategy he labeled as “social extortion.”

“We are currently syncing the Facebook and MySpace databi and will begin to reveal adult Facebook users embarrassing MySpace posts from their youth unless they pay us,” said Zuckerberg.

Business analysts suspect MySpace users’ data could be a goldmine if Facebook can find a way to organize and monetize the countless viral quizzes users filled out and shared.

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