Blog Post

Intermix’s Q2 Earnings: Some Details on Buyout By FIM

Intermix, the LA-basec company (parent of which was recently sold to News Corp/Fox Interactive media for $580 million, has reported its Q2 earnings in an SEC filing (it was publicly traded on Amex prior to porposed buyout). It had Q2 revenues of $26.7 million, an increase of 59 percent over the same quarter last year. It had a net income of $1.2 million, compared to $130,000 in the same period last year.

No specific breakdown of revenues from MySpace was provided, but the division of which it was part of “Network segment” grew 106 percent to $12.7 million, up from $6.2 million for the same period last year.

From the filing on MySpace acquisition: “In connection with the Merger, on July 18, 2005, the Company [Intermix] exercised its option to acquire the outstanding equity interest [47 percent] of MySpace that it does not already own for approximately $69 million.”

Completion of the MySpace purchase is scheduled to occur on October 14, 2005.

Also in the SEC filing, a bunch of details about current and previous litigations against Intermix, the $7.5 million settlement with Attorney General of the State of New York related to adware settlement.

Related: News Corp. – Intermix: VC Payday