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MYSPACE BUYING PHOTOBUCKET

Posted on May 31, 2007 by

NEW YORK (AP) – They are two of the Internet’s most popular hangouts. And now, they are part of the same corporate household. The parent firm of MySpace has purchased the media-sharing site Photobucket. The purchase price — about $300 million. The deal gives MySpace and its sister sites access to Photobucket’s photo and video technologies, while Photobucket will obtain access to corporate parent Fox Interactive’s ability to speed up the development of its online tools. Under the deal, Photobucket would remain a stand-alone operation within Fox, and users of rival social-networking sites such as Facebook could continue to incorporate Photobucket content in their profiles.