Los Angeles, CA, September 30, 2005 –
News Corporation
and Intermix Media, Inc. announced today that Fox
Interactive Media, Inc., a wholly owned subsidiary of News
Corporation, has completed its acquisition of Intermix.
Under the terms of the merger agreement, Intermix's common
stockholders are entitled to receive $12.00 in cash, without
interest and less any applicable withholding taxes.
Additionally, preferred stockholders are entitled to receive
$12.00, $14.60, $13.50 and $14.00 in cash, without interest
and less any applicable withholding taxes, for each share of
Intermix Series A 6%, Series B, Series C and Series C-1
convertible preferred stock, respectively, that they hold.
ABOUT NEWS CORPORATION
News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) had
total assets as of June 30, 2005 of approximately US$55
billion and total annual revenues of approximately US$24
billion. News Corporation is a diversified international
media and entertainment company with operations in eight
industry segments: filmed entertainment; television; cable
network programming; direct broadcast satellite television;
magazines and inserts; newspapers; book publishing; and
other. The activities of News Corporation are conducted
principally in the United States, Continental Europe, the
United Kingdom, Australia, Asia and the Pacific Basin.
ABOUT INTERMIX MEDIA, INC.
A leading online media and ecommerce enterprise, Intermix
Media and its subsidiaries utilize proprietary technologies
and analytical marketing to develop unique content, an
active community and innovative ecommerce offerings. The
Intermix Network blends user-generated and proprietary
online content to motivate its users to spend more time on
its Network and to invite their friends to join them. By
integrating social networking applications, self-publishing
and viral marketing, the Intermix Network has grown to over
30 million unique visitors per month. Intermix also
leverages its optimization technologies, marketing
methodologies and the Internet through its Alena unit, where
it launches branded consumer product offerings. Alena
expands Intermix’s consumer reach by marketing select high
margin and innovative products directly to the consumer
across the Internet. In doing so, Alena cost-effectively
builds consumer brands and drives new users back to the
Intermix Network.
Contacts:
Andrew Butcher (News Corporation Corp. Comms) 212-852-7070
Teri Everett (News Corporation Corp. Comms) 310-369-2929
Sara Jones (Intermix Media, Inc. PR) 213-489-8287