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Tag Archive: Intermix

MySpace Shareholder Suit Going to Trial

MySpace Shareholder Suit Going to Trial

A judge has ruled that a lawsuit filed in 2005 against the MySpace executives who brokered the deal to sell the social networking site to Ruper Murdoch’s News Corp. can finally go forward. The suit accuses former senior executives and directors at Intermix and VantagePoint (a venture capital backer of Intermix) of cheating MySpace shareholders out of billions in revenue by agreeing to a $580 million buyout.

U.S. District Court Federal Judge George King denied the defendants’ motion to dismiss the lawsuit, and the discovery process for the trial is expected to more forward shortly. The suit names former Intermix CEO Richard Rosenblatt and former President Brett Brewer, along with VantagePoint.

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Intermix Sells the House to Fox

Fox, through their recently formed Fox Interactive Unit, is planning to beam into more people’s computers shortly through its planned acquisition of online media company Intermix. At the top of Intermix’s crown of more than 30 sites is MySpace.com, a leading social networking site.

News Corporation, the parent company of Fox, said in a press release that the Intermix acquisition will effectively double the web traffic the company sees to more than 45 million unique monthly users. The MySpace.com site in particular is a huge boost for Fox as data from comScore Media Matrix shows it to be the fifth ranked web domain in terms of page views. MySpace.com integrates web profiles, blogs, instant messaging, music downloads, user forums and other features into a community based structure.  Read more...

Spyware Maker Settles With NY for $7.5M

Intermix Media Inc. which calls themselves a web marketer will be paying the state of New York $7.5 million dollars over the course of three years to settle accusations that the company installs spyware on user’s computer systems.

As part of the new agreement, Intermix Media will also stop any ad-related downloads from being distributed, although the company says they have voluntarily stopped distributing their adware products and programs to users.

Although Intermix Media has settled on terms, they have not admitted any public wrongdoing. For those unfamiliar with Intermix Media, they own several websites that feature online games, jokes, quizzes and other entertainment products. Believe it or not, Intermix Media is a publicly traded company which you can own a part of.  Read more...

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