MySpace Parent to Acquire Photobucket, Flektor

Authored by Mark Hefflinger on May 30, 2007 - 1:21pm.

Palo Alto, Calif. - Three weeks after reaching a preliminary deal, MySpace parent Fox Interactive Media (FIM) officially announced on Wednesday that it will acquire photo sharing site Photobucket for an undisclosed sum.

Earlier this month, The Wall Street Journal reported the value of the deal to be $250 million in cash.

FIM, a division of News Corp., also announced a separate deal to acquire Culver City, Calif.-based Flektor, a developer of tools that allow users to edit video and audio and embed it on websites, blogs or social network profile pages.

FIM's properties include MySpace, IGN Entertainment, FOXSports.com and AmericanIdol.com.

Palo Alto, Calif.-based Photobucket is expected to remain a standalone site, with its technology and tools also being embedded in other FIM sites.

http://press.photobucket.com/blog/2007/05/important_photo.html

http://www.flektor.com

Published in DMW Daily, May 30, 2007

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Silicon Valley

Submitted by anonymous (not verified) on June 4, 2007 - 4:56am.

Silicon Valley entrepreneur and strategy consultant Sramana Mitra, outlines a strategy on how News Corp. owned MySpace should charge Photobucket and all the other services that have sprouted around the MySpace eco-system. Link: http://sramanamitra.com/blog/885