19/07/2005

BBC NEWS | Business | News Corp in $580m internet buy

BBC NEWS | Business | News Corp in $580m internet buy

News Corp has purchased Intermix Media who own Myspace.com which is the fifth most-viewed internet domain in the US, and other sites for $580m.

This will be used to drive traffic to other News Corp sites (Fox TV sites). Tis initially seems to be to drive advertising revenue which is seeing big increases in the on-line world, while traditional media are losing out.

It looks a reasonable course of action, with News Corp owning large chunks of newspaper, television and now Internet advertising space.
Post a Comment