Acquisition Wednesday: Fox Interactive's Peter Levinsohn Talks

It’s a good morning to be a social media web startup. First Fox Interactive Media sends out a release officially announcing it’s buying both photo sharing site Photobucket and slide show widget creator Flektor. Then CBS announces that it’s bought music social network Last.fm for $280 million.

Whoa, media sharing madness. While FIM didn’t disclose terms of its deals, Photobucket has been rumored to have gone for $250 million and TechCrunch says Flektor is in the $10 to $20 million range.

Peter Levinsohn, President of Fox Interactive Media, told us in a phone conversation Wednesday that Photobucket and Flektor are part of the company’s growth and monetization strategy, along with FIM’s recent acquisition of Strategic Data

“Photobucket is a stand-alone destination that has real value outside MySpace. Flektor is an easy to use photo- and video-editing tool that is going to enhance MySpace and other properties like American Idol,” said Levinsohn.

When asked about Facebook, he added, “I think MySpace has grown by 6 million uniques since January and we are growing from a big base. We are conscious of Facebook’s growth and we are three times the size.”

Levinsohn told Om in a previous interview that the company was looking to make a series of smaller acquisitions working on filling holes and monetizing. Looks like he wasn’t kidding.

CBS has been buying up its share of web properties lately, too. Liz confirmed last week that the company had bought online video show Wallstrip for a price in the single-digit millions.

Last.fm and Photobucket, which both have large loyal communities, are quick to reassure their users that being sold to corporate networks won’t change the day to day experience.

From Photobucket’s blog:

First and foremost, we expect nothing to change in our day-to-day operations. After the transaction is closed and finalized, the plan is to operate Photobucket as an independent, standalone company within FIM.

From Last.fm’s blog:

OH NOES UR SELLIN MY SCROBBLES!!1!! — Don’t panic. The openness of our platform and our approach to privacy won’t change.

We’ll add more details and thought pieces throughout the day.

loading

Comments have been disabled for this post