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News Corp. may buy PhotoBucket

Company wrapping up multi-million dollar deal

News Corp. may be on the verge of its next big Internet buy.

Online buzz Monday indicated that the conglom is wrapping up a deal to acquire PhotoBucket, a photo hosting site that’s frequently used on News Corp.’s MySpace.

Deal, first reported on Silicon Valley blog Valleywag, would see News Corp. pay several hundred million dollars for the 4-year-old Netco, which runs the most popular photo site on the Web.

PhotoBucket lets users upload photos and then share them with friends, on a Web site or via email, in slideshows with music, captions or effects.

It’s very popular on MySpace; users put a PhotoBucket widget on their profile page to show off images of themselves and friends.

That would make it a natural fit for News Corp. MySpace has increasingly been moving into markets, such as video, where other companies have built applications for MySpace profile pages.

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