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News Corp. has reached a deal to purchase Intermix Media for $580 million in cash. The buyout includes MySpace.com, the Web’s most popular social-networking site. MySpace has exploded in popularity, growing from 1.1 million visitors in June 2004 to 17.7 million a year later, per ComScore Media Metrix. News Corp.’s newly formed Fox Interactive Media unit hopes this popularity will lure brand advertisers that have mostly shied away from unpredictable environments like social networks.
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