MySpace eyes Flixster buy

CALIFORNIA, USA: The social networking site MySpace's obsession with entertainment remains steady as it looks to buy Flixster, the social-networking site for movies. MySpace had recently acquired two music startups - Imeem and iLike.

The News Corp. unit has already turned its attentions on Flixster, says a Cnet report citing sources.

“Such a deal is not immediately imminent, but MySpace has been conducting extensive due diligence on the San Francisco-based Flixster, part of a plan to combine it with Rotten Tomatoes, another News Corp.-owned site run by its IGN Entertainment division,” they were quoted as saying.

Though how much MySpace would be willing to pay for Flixster is unclear, it is reported that in 2007, the start-up was close to being acquired by IAC/InteractiveCorp for $100 million.

Founded in 2006 by CEO Joe Greenstein and CTO Saran Chari, Flixster has raised $7 million in funding from Lightspeed Venture Partners, Pinnacle Ventures, as well as garnering an angel investment from Silicon Valley entrepreneur and LinkedIn founder Reid Hoffman.