Nick Mudge Ignition Software Consulting & Development

I heard Microsoft bought Facebook for $240 million and looked into it and found that Microsoft didn't buy Facebook, it only made a $240 investment in it for 1.6 percent of the company, according to Associated Press, who reports that Facebook is worth $15 billion. Is something nuts here or did News Corp. get a spectacular deal for buying Intermix, which owns 53 percent of MySpace (but reports say it plans to buy out the rest) for only $580 million?

Facebook News Reports:

Microsoft buys Facebook slice
Microsoft Deal Values Facebook at $15B

MySpace News Reports:

News Corp.'s Place in MySpace
News Corp in $580m internet buy
News Corp. to Acquire Owner of MySpace.com

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