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NEW YORK (AP) - The parent of MySpace is buying the media-sharing site Photobucket for about $300 million, bringing together two of the Internet's most popular hangouts.
The deal announced Wednesday will give MySpace and sister sites under News Corp.'s Fox Interactive Media access to Photobucket Inc.'s photo and video technologies, while Photobucket gets Fox's resources to accelerate development of its tools.
Peter Levinsohn, president of Fox Interactive, said Photobucket also would be able to incorporate advanced slideshow generators and other editing tools from Flektor Inc., which Fox also announced Wednesday it bought.
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