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USA takes stake in Web venture

Diller invests $26 mil in MXG Media

USA Networks Interactive, a unit of Barry Diller’s USA Networks, will announce Tuesday a $26 million investment in MXG Media, which specializes in online, print and video properties for Gen Y women and girls.

USA will hold two seats on MXG’s board.

Through the partnership, MXG will work with USA to develop convergence programming, including broadband offerings and television shows with integrated Web sites.

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