News Corp (Murdoch) to buy Intermix (MySpace) for $580 million

[ignu]

http://news.yahoo.com/s/nm/20050718/wr_nm/media_newscorp_dc_2

News Corp to buy Intermix for $580 million
By Derek Caney

News Corp. on Monday said it would buy Intermix Media Inc., owner of the popular MySpace.com social networking site, for $580 million in a move to expand the media conglomerate's Internet offerings.

The deal comes after News Corp., home to the Fox television network, Fox News and 20th Century Fox film studios, announced on Friday the creation of an Internet division to hold the company's sports, news and entertainment sites.

<...>

"For a company with a market capitalization of over $50 billion and $6 billion in revenue last quarter to pay $580 million for the fifth most widely viewed domain, that strikes me as reasonable," said Natexis Bleichroeder analyst Alan Gould.

"With a significant amount of advertising dollars moving from traditional outlets to online, News Corp., like most media companies, is looking to boost its Internet assets," Gould added.

<...>

MySpace.com is the most popular of the once-trendy social networking sites, which allow people with common interests to seek dates, friendship and professional relationships.

[autorank]

1. Bad deal...for Fox and the users.

Fox is not cool, the people who like Fox are far different than the online community. This will be like those 90's deals (I guess Fox can't read) where the seller makes out and the buyer looks around and says, WTF?

:rofl:

[Hawkeye-X]

2. Never heard of myspace.com

And will never use it. :P

[msongs]

4. it is for adolescents and people under 25-30 and their lifestlye thingies

[Ernesto]

6. Ah yes... Dur youth corps needs training.... n-t

[FlashHarry]

3. I use it all the time.

I play in a couple of bands, and the free (though buggy) MySpace.com is invaluable. Crap. Friggin' Murdoch!

[Noxmtbnk]

5. Me too

It's a great resource for bands, and I don't think its potential for band networking has been fully realized.

But Murdock owning it is BAD news. I forsee subscriptions and censorship in the future.

[IbeaBonehead]

7. I actually know the guys that started MySpace

Tom and Chris...brilliant guys, both of them.

The shift to a music focus along with a few other strategic decisions allowed them to swamp Friendster and the entire market for that matter.

Theri previous company was bought by Euniverse which became Intermix, and now will be swallowed by FOX :o

Way to go guys!!


http://www.myspace.com/badgimp

We shall see..

[belle]

8. Funny...I just now clicked off Zach's (poor kid in ex-gay camp) blog...

...myspace. wonder where it'll go.

[Sven77]

9. just adding to the government database

im sure the globalist will add this info to the matrix government database. murdoch sucks, he will ruin this great service.

[lies and propaganda]

10. this kills me...

i will not use it anymore if this truly happens.

I love how Murdoch wants the money of all us young, depraved net/family guy/simpsons geeks. Hypocrisy in action all day long for Rupert, bastard.