Photobucket goes to Myspace (Acquired)
Like a squabbling couple finally realizing they can't live without eachother -- or a parasite fusing with its host -- 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 acquisition, but Photobucket, and its bankers Lehman Brothers, were looking for at least $300m.