Ken Magill reports:
Rupert Murdoch's News Corp. has demonstrated the seriousness of its commitment to digital media by reaching a deal to buy Intermix Media Inc. for $580 million in cash.
At the same time, Intermix announced it has exercised its option to buy the 47 percent of MySpace.com it does not already own.
The announcement -- one of the biggest commitments to the Web by a big media conglomerate in recent memory -- underscores how important online advertising has become to traditional media companies now that the online ad industry has recovered.
"News Corp. has historically been one of the big media conglomerates that hasn't invested heavily in the Internet, which in 1999 looked pretty smart, but which lately has looked a little slow," said David Card, senior analyst with Jupiter Research.
Intermix and Myspace.com will become part of Fox Interactive Media, a new unit that News Corp. announced on Friday will oversee Foxsports.com, Foxnews.com, Fox.com and the Web sites owned by Fox's local television stations.
Full story: http://www.clickz.com/news/article.php/3520856
Affiliates my in yours programs
Posted by: Ramon Perez Mateo | January 06, 2007 at 12:22 PM