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Strike A Pose: News Corp. Acquires Photobucket And Flektor Inc.

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May 31st 2007
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cosmo1.jpgNews Corp. acquires photo-sharing site Photobucket after a month of negotiations. Financial details have not been disclosed although there has been rumor that News Corp. offered $250 million at the beginning of the month.

VP of Sales for Photobucket Peter Foster confirmed the acquisition adding that Photobucket’s business would largely remain the same. Photobucket will now be conducting business under the Fox Interactive Umbrella although still classified as an independent production.

News Corp. not only gains access to 40 million registered users with this acquisition, it also resolves a conflict over the use of Photobucket generated doodads on MySpace.

Turning the focus, News Corp. also announced its acquisition of Flektor Inc. which provides internet-based tools for video mashups, creating slideshows and miscellaneous interactive presentations.

“As a leading site for creative expression, Photobucket extends our reach among personal media-sharing enthusiasts, and the innovative new entrant Flektor brings highly differentiated new tools to the table that will drive the next generation,” Peter Levinsohn, president of Fox Interactive Media, said in a statement. “Together, they represent a powerful combination and we are thrilled for them to join our network.”



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