MySpace is acquiring Photobucket

After Photobucket videos were blocked by MySpace for about a month, MySpace is going for buying it for not less than already decided upon tag of $300M.

 

Reported over Valleywag, the deal has been finalized about one week ago.

 

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.

 

A deal MySpace was looking for long and Photobucket was expecting desperately but of course, it was pretty much obvious!

Leave a Reply

Your email address will not be published. Required fields are marked *