(4 October 2005 2:00 pm)

MUMBAI: News Corporation and Intermix Media, Inc. announced that Fox Interactive Media, Inc., a wholly owned subsidiary of News Corporation, has completed its acquisition of Intermix.

Under the terms of the merger agreement, Intermix's common stockholders are entitled to receive $12.00 in cash, without interest and less any applicable withholding taxes.

Additionally, preferred stockholders are entitled to receive $12.00, $14.60, $13.50 and $14.00 in cash, without interest and less any applicable withholding taxes, for each share of Intermix Series A six per cent, Series B, Series C and Series C-1 convertible preferred stock, respectively, that they hold.

News Corporation had total assets as of 30 June, 2005 of approximately $55 billion and total annual revenues of approximately $24 billion.

Intermix Media, Inc. is a leading online media and ecommerce enterprise and its subsidiaries utilise proprietary technologies and analytical marketing to develop unique content, an active community and innovative ecommerce offerings.