Looks like yes. MySpace is acquiring Photobucket for $250 million in cash. We’re also hearing that there is also an earn-out for up to an additional $50 million. So 300 million. This was the question and rumor that had been flying around silicon valley the last few months. I’m sure some people remember that Newscorp shut Photobucket users from uploading their content to MySpace in a beef that was most likely used for more negotiating leverage in this deal. Today it looks like Newscorp did step up to the plate and swing for the Photobucket fences. Some thought that Photobucket could go for 250 or 300 million which I think would be a steal based on the loyal user base they have and subscription model which is raking in money. Photobucket is a relatively new company at 4 years old but has seen tremendous growth in the last year. If Newscorp confirms its buy of Photobucket it is a great way to counter Yahoo’s Flickr which has been going gangbusters. How do you feel about large companies buying these creative communities?