Photobucket Acquired By MySpace
Valleywag claims that MySpace has purchased Photobucket, estimating a deal around $300 million. If true, this might give us a clue as to what really happened just a few weeks ago...
Photobucket has concluded terms of a sale to Myspace, News Corporation's social network. The photo sharing service, which had a quarrelsome but symbiotic relationship with Myspace, may announce the deal as early as this morning. After final negotiations at the end of last week, Photobucket has called an all-hands staff meeting for 10am PST this morning. We don't have the financial details of the deal, but Photobucket, and its bankers Lehman Brothers, were looking for at least $300m.
Update: Confirmed - MySpace is acquiring Photobucket for $250 million in hard cash! They were looking for $300 m, but may have had few bidders other than MySpace.
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