MySpace acquiring Photobucket?

It’s clear now why Photobucket settled their disputes with MySpace without making much noise about it. The company had earlier accused the online social networking service of blocking their members to use their service to share digital media content.

As per the latest market sources, MySpace is acquiring Photobucket. Rupert Murdoch might be disappointed at letting Google acquiring YouTube but he is not going to take another chance.

Photobucket has been named as the most popular image sharing service on the net. Flickr and the rest are smaller players in the market. This makes Photobucket a good acquisition deal for News Corp. as the possibility of making money from this new acquisition is pretty realistic.

The deal has not been confirmed by the two companies but a news release could come as early as today. The financial aspects of the deal are also not clear though Photobucket founders were rumored to be considering a price tag near USD 300 million.

James McQuivey, an analyst with Forrester Research has said in a note that if MySpace is indeed paying close to around USD 300 million for Photobucket, it is not a bad buy.

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