Murdoch puts his money where his mouth was

[Keyword: onlinejournalism]. It seems it wasn't all just talk when Murdoch expressed the need for newspapers to wake up to the web - now he's shelled out $580m on Intermix Media, "a US internet company with more than 30 entertainment and community sites."

"Jewel in the crown of the $580m (£331m) deal is myspace.com, a two-year-old site which allows friends to share weblogs, photos, instant messages and music online. MySpace is one of the fastest-growing sites on the web, currently ranked fifth in terms of page views, and the cash deal is expected to more than double the number of unique users visiting News Corp site, especially the number of advertiser-friendly 16-34-year-olds.".

[Source: MediaGuardian]