May 31, 2007

Speaking of Ongoing Strategies … [7:40 am]

News Corp. isn’t letting up: 2 amateur video sites snapped uppdf

News Corp.’s Internet division plunged further into the fast-growing world of amateur video Wednesday, buying two young companies for a combined $270 million.

Fox Interactive Media spent about $250 million for Photobucket Inc., which draws more than 30 million monthly visitors who view and store billions of digital photographs, videos and slideshows.

The Beverly Hills-based News Corp. group also spent more than $20 million for little-known Flektor Inc., which offers free tools for editing and displaying online videos.

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