Beware the return of the Web Bubble

Iria · Aug 17, 2006, 08:36 PM

Source: CNNMoney
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NEW YORK (CNNMoney.com) -- Banker David Hannum, and not P.T. Barnum as widely believed, once said that "there's a sucker born every minute." That axiom may yet prove true for major media companies in the coming months.

News Corp.'s purchase of Intermix Media, parent company of the uber-popular social networking site MySpace, for $580 million last year has created shock waves throughout the traditional media industry.

Aug 17, 2006, 08:36 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Beware the return of the Web Bubble Source: CNNMoney _________ NEW YORK (CNNMoney.com) -- Banker David Hannum, and not P.T. Barnum as widely believed, once said that "there's a sucker born every minute." That axiom may yet prove true for major media companies in the coming months. News Corp.'s purchase of Intermix Media, parent company of the uber-popular social networking site MySpace, for $580 million last year has created shock waves throughout the traditional media industry.