Thursday, July 21, 2005
MediaPost Publications - News Corp. To Buy Intermix For $580 Million - 07/19/2005:
"by Gavin O'Malley, Tuesday, Jul 19, 2005 6:01 AM EST
IN ANOTHER EXAMPLE OF A traditional media company snapping up an Internet player, Rupert Murdoch's News Corp. on Monday agreed to buy Intermix Media Inc., which controls the wildly popular social networking Web site MySpace, for $580 million in cash. MySpace, along with Intermix's other 30-odd Web destinations, has made inroads in drawing both the precious youth market and advertisers. Nielsen//NetRatings' AdRelevance unit reported last week that MySpace beat out heavyweights MSN Hotmail and Yahoo! Mail as the leading site for advertisers to promote their wares in June, with a 7.9 percent share of ad impressions. Advertisers include Procter & Gamble and Sony Pictures.
Additionally, MySpace.com currently dominates other social-networking sites on the Web, with 84.46 percent of the market for the week ending May 21, according to research firm Hitwise.
The deal represents one of many recent buyouts of Internet companies by traditional media players. For instance, earlier this year, Dow Jones & Co. purchased MarketWatch for $519 million, and New York Times Co. bought About.com from Primedia for $410 million..."
"by Gavin O'Malley, Tuesday, Jul 19, 2005 6:01 AM EST
IN ANOTHER EXAMPLE OF A traditional media company snapping up an Internet player, Rupert Murdoch's News Corp. on Monday agreed to buy Intermix Media Inc., which controls the wildly popular social networking Web site MySpace, for $580 million in cash. MySpace, along with Intermix's other 30-odd Web destinations, has made inroads in drawing both the precious youth market and advertisers. Nielsen//NetRatings' AdRelevance unit reported last week that MySpace beat out heavyweights MSN Hotmail and Yahoo! Mail as the leading site for advertisers to promote their wares in June, with a 7.9 percent share of ad impressions. Advertisers include Procter & Gamble and Sony Pictures.
Additionally, MySpace.com currently dominates other social-networking sites on the Web, with 84.46 percent of the market for the week ending May 21, according to research firm Hitwise.
The deal represents one of many recent buyouts of Internet companies by traditional media players. For instance, earlier this year, Dow Jones & Co. purchased MarketWatch for $519 million, and New York Times Co. bought About.com from Primedia for $410 million..."
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