News Corp. to Buy Intermix for $580 million
Filed in archive Business by Mark Brooks on July 21, 2005
ASSOCIATED PRESS -- July 18 -- News Corp. will spend $580 million to buy Intermix Media--which recently settled a lawsuit accusing it of distributing spyware.
News Corp., a movie studio and television conglomerate, said the move
is an effort to expand its Internet offerings. Intermix's holdings
include MySpace.com.
Intermix, which had revenue of $24.1 million Q1 2005, will become part
of News Corp.'s newly created Fox Interactive Media. The deal is
expected to close in Q4. FULL RELEASE @ YAHOO
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