News Corporation to Acquire Intermix Media, Inc.: "Acquisition Includes World's Fastest-Growing Social Networking Portal, MySpace.com"
I had heard the rumors that MySpace was a prime acquistion target, but I would have not guessed that Fox would be the suitor. I'm as big a fan of MySpace as most, but I've got to say that I think $580 Million is more than a little steep for a site and service that can be duplicated fairly easily. Granted, they are buying mulitple properties and established eyeballs, but if MySpace can build that kind of traffic as a small independent company with little to no marketing budget (at first), than others should be able to do the same.
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