If you build it, they will buy it. Big Media internet spending spree picking up

Big Media companies are forming groups to seek out potential internet businesses they can snatch up. That is how serious they are about taking the current web bubble by the balls and running with it. Newscorp announced today that they managed to con the owners of two upstart internet operations into selling to them. The deep pockets at Newscorp snatched up Ksolo.com an online karaoke site and Newroo Inc. Ross Levinsohn, Fox Interactive's big guy weighs in: "Fox Interactive Media's acquisitions of Newroo and kSolo demonstrate our commitment to empowering users with interesting tools that they can use to further enhance their online experience and online identity". More...