Biz Briefs; News Corp. Leads Intermix Bidding.(Intermix Media, Tribune Broadcasting Co., NBC Universal Inc., DreamWorks L.L.C.)

TelevisionWeek, October, 2005 by Sherman, Jay

Byline: JAY SHERMAN News Corp. appeared to come out on top in its effort to acquire Intermix Media last week despite a competing bid. Intermix, best known for its popular social networking site MySpace.com, rejected an unsolicited offer for the company from its former CEO, Brad Greenspan. He said two weeks ago that he was forming an investor group called FreeMySpace LLC to offer Intermix shareholders $13.50 a share for a significant interest in Intermix.

The offer was seen as a premium over the $12-a-share bid that News Corp. has on the table to buy all of Intermix in a deal valued at $580 million. Mr. Greenspan had argued that News Corp.'s offer significantly undervalued Intermix. However, Intermix officials in a statement last week said Mr. Greenspan's...

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