Fox Interactive Media has sold the assets of the Intermix Network to former Intermix CEO Richard Rosenblatt's Demand Media. FIM had acquired those assets - along with MySpace - in July 2005.
paidContent reports that FIM has issued a statement saying "Fox Interactive Media (FIM) has sold most of the remaining, non-MySpace assets of Intermix Network LLC to Demand Media. These assets weren't vital to our long-term plan and selling them to an interested third party made the most sense from both a strategic and financial perspective."
FIM retains the rights to the social networking code base for Grab.com, which is now being used for foxsports.com, americanidol.com and other FIM operations. Demand Media will also get a license to the code, and FIM retains a perpetual royalty-free license for the casual games that came with the company.
"We plan on having a mix of organic and strategic growth. Going forward, the focus is on organic growth." Demand Media CEO Rosenblatt said. The portfolio of Intermix sites that Demand Media acquired has a combined 5 million monthly unique visitors.