NEWS Corporation has made good on Rupert Murdoch's vow to expand its on-line presence, announcing yesterday its first major internet acquisition since the dotcom boom. In a cash deal that gives News Corp a foothold in the arena of internet news blogs and social networking, the company will buy Intermix Media for $US580 million ($776 million). U.S. company Intermix owns MySpace.com – the worldwide web's most popular meeting place for young people – and a range of other websites offering games, cartoons and on-line greetings cards.
here's the kicker:
"We see a great opportunity to combine the popularity of Intermix's sites, particularly MySpace, with our existing on-line assets to provide a richer experience for today's Internet users," Mr Murdoch said.