MySpace buys PhotoBucket for $250 Million

May 8 2007, 4:00am CDT | by Luigi Lugmayr

MySpace adds photo sharing company to its portfolio. Apparently MySpace pad $250 million for Photobucket.

There is no official statement from either company on this deal.
TechCrunch reports that they have confirmed the rumor that has sprung up earlier yesterday about the acquisition. Photobucket was actively looking for a buyer since March.
Early April was some controversy about blocked PhotoBucket videos on MySpace. Apparently that confrontation was the starting point for the acquisition talks.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.