Tuesday, November 21, 2006
Report: News Corp Sells Intermix Properties To Demand Media
Variety reported Monday that News Corp. has sold the non-Myspace portion of its Intermix Media acquisition to Demand Media, the web startup headed by former Intermix CEO Richard Rosenblatt. Terms were not disclosed. Officials at Fox, quoted by Variety, said that the assets were not vital to the firm's long-term plan. Rosenblatt's Demand Media has raised over $220M from 3i Ventures, Generation Partners, Oak Investment Partners, and Spectrum Equity Investors and has been acquiring both domain name registration as well as vertical web site businesses. According to paidcontent.org, which first broke the story, the deal closed Friday, and Demand Media will relaunch, sell, or close down a number of the web sites acquired in the deal.