Rupert Murdoch Makes MySpace His Own
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Written By Reprise Media | July 18, 2005 | Share This
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MurdochSpace?
FoxSpace?
Holy-crap-we-got-bought-for-$580million-Space?
Marketing execs may have to come up with a new name for MySpace one of over 30 marketing and entertaining Web sites owned by Intermix Media, who just got bought by Rupert Murdoch’s News Corporation for a cool $580 million in cash.
Word has it that News Corporation will incorporate MySpace.com and Intermix’s other sites into its newly formed Fox Interactive Media unit. The move will boost traffic News Corp’s traffic in the US to over 45 million unique visitors a month and leverage the recent success of the social networking site.
Stowe Boyd of Corante calls the acquisition bubbilicious, while Ken Magill of ClickZ says it’s one of the biggest commitments to the Web by a big media conglomerate in recent memory.
More on this one as it develops. In the meantime, check out the Fox News profile on MySpace that brings bad HTML to new heights.
Topics: Investment, M&A |