As part of the deal, Intermix exercised its option to acquire the 47 percent of MySpace.com that it does not already own.
MySpace.com and Intermix’s more than 30 sites will become part of News Corporation’s newly formed Fox Interactive Media unit.
Intermix attracts about 27 million users to its sites specializing in entertainment, humor, gaming and social networking, as well as sharing or sampling of pictures, music and video.
The site atttacts about eight percent of all ads on the Internet, putting it in the company of giants Yahoo, Google and America Online.
News Corporation announced that it entered into a voting agreement with VantagePoint Venture Partners, the largest stockholder of Intermix. The agreement provides that VantagePoint will vote its shares, representing approximately 22.4 percent of the outstanding shares of Intermix, in favor of the transaction.
Press release.
