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TechCrunch: News Corp. Selling Photobucket for $60 Million

Authored by Mark Hefflinger on October 19, 2009 - 8:58am.
Palo Alto, Calif. - News Corp.'s (NYSE: NWS) digital media unit is close to unloading its Photobucket photo-sharing site to Ontela, a Seattle-based mobile photo-sharing service, in a deal that values Photobucket at $60 million, TechCrunch reported, citing unnamed sources.

MySpace acquired Photobucket -- which had become a popular resource for MySpace users looking to add images to their profiles -- for more than $250 million in 2007.

TechCrunch noted that Ontela is backed by Disney-affiliated Steamboat Ventures, which sources said will be investing $40 million to help secure the deal and bolster the merged company.

 

Related Links:
http://snipurl.com/slnfr (TechCrunch)

http://www.photobucket.com

http://www.ontela.com

Published in DMW Daily, October 19, 2009
tags: Deals | MySpace | Acquisitions | Photobucket | News Corp. | Images | Ontela | Steamboat Ventures |



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