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Fox buys MySpace

Fox Interactive Media just spent $580 million to acquire MySpace.com. Ross Levinsohn, new president of FIM, says they plan to keep the existing management team in place: "Don't look for a rebranding of MySpace to FoxSpace." Well, we'll see.

Update: danah sez: it's all about the marketing opportunity to sit in the bushes with cameras and observe the behavior patterns of the 'digital natives.' Also, Emma points out that the $580 million bought them all of Intermix and not just MySpace, which I neglected to mention. Intermix does 30-odd sites, of which MySpace is just the most salient object in the deal.

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