MySpace Just Made Fat Cash

According to this article, Intermix Media, the owner of MySpace, is being purchased for $580,000,000 (yes, all those zeros are correctly placed) by News Corp. You might know News Corp. better as the company that owns Fox, Fox News, 20th Century Fox, etc. At first pass, that seems ridiculous, both the price and the entire scenario. Then you realize that News Corp. is worth about $50 billion, they want a piece of the internet, MySpace is the 5th most viewed domain on the web (scary, eh? 15.5 million uniques in the month of May), and nothing that’s #1 free, #2 well done, and #3 potentially profitable will stick with #1 for too long in our economy.

But still… it’s MySpace. It’s just funny.