News Corp to Buy Photobucket Site

NEWS CORP TO BUY PHOTOBUCKET SITE
[SOURCE: Associated Press, AUTHOR: Anick Jesdanun]
News Corp, the owner of MySpace, is buying the media-sharing site Photobucket for about $300 million, bringing together two of the Internet's most popular hangouts. The deal announced Wednesday will give MySpace and sister sites under News Corp.'s Fox Interactive Media access to Photobucket Inc.'s photo and video technologies, while Photobucket gets Fox's resources to accelerate development of its tools. The Photobucket deal comes just weeks after a public spat in which MySpace partially blocked content from Photobucket. Under the deal, Photobucket would remain a standalone operation within Fox, and users of rival social-networking sites such as Facebook could continue to incorporate Photobucket content in their profiles. For now, Photobucket will continue to offer basic services for free, with a fee for more storage and other features.
http://biz.yahoo.com/ap/070530/myspace_photobucket.html