Yahoo!News, last week:

News Corp. (NYSE:NWS) on Monday said it would buy Intermix Media Inc. (AMEX:MIX), owner of the popular MySpace.com social networking site, for $580 million in a move to expand the media conglomerate’s Internet offerings.

“For a company with a market capitalization of over $50 billion and $6 billion in revenue last quarter to pay $580 million for the fifth most widely viewed domain, that strikes me as reasonable,” said Natexis Bleichroeder analyst Alan Gould.

“Reasonable”… Yep, the Net economy is back all right!

“The thing about MySpace is that it’s a growing audience,” said Jupiter Research analyst David Card. “Its users are pretty loyal. They get a lot of time spent on their pages. And the personal information they get from users is pretty reliable because they want to meet people. One would think this information would be pretty useful to advertisers.”

This is classic! A “growing audience” that is “pretty reliable”.

Intermix was the target of a lawsuit by New York State Attorney General Eliot Spitzer, who accused the company of false advertising and deceptive business practices in bundling hidden spyware that delivered pop-up advertising and redirected Web traffic to an Intermix search engine.

Who said the Internet bubble was gone??