MySpace to buy Photobucket for $250M

Broomfield, Colo. -- MySpace.com has signed a preliminary deal to buy the Photobucket.com photo-sharing Web site for $250 million in cash, a U.S. published report said Monday.

Both sides were working out the details Monday night, The Wall Street Journal reported.

MySpace, its parent, News Corp.'s Fox Interactive Media, and Photobucket declined to comment.

News of the discussions was first reported by the Silicon Valley blog Valleywag.

Photobucket, the Web's largest and fastest-growing photo-sharing service, lets users store photos and videos and then put them onto pages on community sites including MySpace.

Lehman Brothers represented Photobucket in the negotiations.

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