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News Corp. Has Eye on Blinkx
ADOTAS – Blinkx Plc, the video-search operator, may be snapped up by News Corp., according to a Bloomberg report. Since the news leaked, shares have skyrocketed, reaching a seven-month high today.
Blinkx was founded in 2004 by Suranga Chandratillake in Britain. In May of last year, Blinkx merged with another British search engine firm called Autonomy. On May 24 of this year, a pesky clause expires: it says $50 million must be forked over to Autonomy in the event of buyout, which would stymie many an ardent suitor.
Some industry watchers say Google or Yahoo would make more sense as potential partners because of Blinkx’s strong search engine technology.
A Blinkx rep did not return requests for comment. As of 1:10 p.m., Blinkx was at $31.50 a share, a 26% spike. News Corp. was down 1.96% to $19.30.
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