MySpace, is one of the fastest-growing sites on the web, currently ranked fifth in terms of page views, and the cash deal is expected to more than double the number of unique users visiting News Corp site, especially the number of advertiser-friendly 16-34-year-olds.

The acquisition, the first internet-based deal the company has struck since 2000, comes just three months after Mr Murdoch warned a meeting of American editors they would be “relegated to the status of also-rans” if they ignored the internet.”Intermix’s brands, such as MySpace.com, are some of the web’s hottest properties and resonate with the same audiences that are most attracted to Fox’s news, sports and entertainment offerings,” Mr Murdoch said in statement.

Guardian: Murdoch nets Intermix for $580m

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