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Old 07-18-2005, 07:31 PM   #1
Larwee

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Default Intermix Media being sold to News Corp

Most of you probably know that Rupert Murdoch is the chairman and chief executive of News Corp and that News Corp owns the Fox television network, among many other holdings.

Intermix Media owns over 30 sites, including MySpace.com. The selling price is 580 million dollars.

News Corp has done a good deal of media diversification. Diversification is often a very good business principle. This purchase gets News Corp into online social-networking.

http://www.internetweek.com/showArti...leID=166400344
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Old 07-19-2005, 01:40 AM   #2
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Great move for News corp, and another example of company which has changed its past practices and is now being valued by its current actions!
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Old 07-19-2005, 02:52 AM   #3
Czar

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Intermix and News Corp are a good fit. Friendster investors must be kicking themselves knowing that they're now set for a showdown with News Corp, who bought the competition for a song, comparitively speaking.

Interestingly, one of News Corp's chief competitors in Australia - Fairfax - just bought a major matchmaking website, RSVP, for about $23 million or so, which itself reaches a similar market to MySpace. It looks as though the traditional media giants are finally understanding the value in stepping outside their comfort zones and embracing user-generated online networks and content.
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