Photobucket acquisition confirmed May 7, 2007
Posted by Daniel Gardner in Fox, MySpace, Photobucket, TechCrunch.trackback
Last time I spoke about this I said:
I would say the decision was made because of the latter as Photobucket is currently on the take for an estimated $300 – $400 million, this play may be an attempt by Fox to dilute Photobucket’s worth by distributing FUD with relation to the future of there Online Video offering and it’s actual value, possibly allowing them to pick up a bargain and expand there media powerhouse.
It looks like this has held up, TechCrunch are reporting Photobucket was acquired for 50m under what was expected, this shows again Murdoch’s ruthlessness, doing anything to secure a deal at the right price (or the best price).
Got a little bit confused while reading :S