Berkeley CSUA MOTD:Entry 38691
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2018/04/26 [General] UID:1000 Activity:popular
4/26    

2005/7/18-19 [Politics/Foreign, Politics] UID:38691 Activity:nil
7/18    OMG LOL WTF: Rupert Murdoch's News Corp buys Myspace for $580m
        http://csua.org/u/cqz (telegraph.co.uk)
2018/04/26 [General] UID:1000 Activity:popular
4/26    

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Cache (1231 bytes)
csua.org/u/cqz -> www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2005/07/19/cnmysp19.xml&menuId=242&sSheet=/money/2005/07/19/ixfrontcity.html
Disclaimer Murdoch buys up Myspace By David Litterick in New York (Filed: 19/07/2005) News Corporation owner Rupert Murdoch continued his foray into the intern et with the purchase of Intermix Media for $580m (330m). The deal comes after News Corp, home to The Sun and The Times newspapers as well as 20th Century Fox film studios, announced last week the creati on of an internet division for the company's websites. com, an entertainment site offering games and online greetings cards. The internet is seen as the fastest growing medium for advertisers, and M r Murdoch has repeatedly spoken of his desire to expand News Corp's web offering. He said recently he had urged his management teams to think mo re about internet strategy. "The internet is still a small part of overall advertising but it's growi ng rapidly and it's a sea-change," said John Tinker, an analyst at Think Equity Partners in New York. com has become one of the biggest sites in the country out of nowhere." The purchase underscores the importance of online advertising for traditi onal media companies. Although Intermix revenues were just $79m last year, Myspace is the fifth most viewed domain, according to analysts, who said the price was reaso nable.