YouthStream Media Networks, also known as Network Event Theater, is acquiring sixdegrees, publishers an online community of nearly 3 million members. YouthStream, also known as Network Event Theater, is acquiring sixdegrees in a stock-for-stock transaction valued at about $125 million. Sixdegrees' largest investor is News Corp., which made an investment in June in the form of cash and advertising on by News Corp.-owned media, which include Fox. As part of the agreement, YouthStream will have access to Fox sports and news feeds, and will evaluate opportunities for further integration of Fox content.
Copyright December 1999, Crain Communications Inc.