MySpace to Acquire Photobucket

Reports have been surfacing all week that MySpace would acquire photo-sharing giant Photobucket for as much as $300 million. Considering the issue of users being unable to utilize various third-party widgets on MySpace, including Photobucket videos, this could be a major coup for both MySpace and its parent News Corp.

That Photobucket is much more than just a widget — and is also a major social networking site itself with huge amounts of traffic — must have made it appealing to News Corp. Meanwhile, TechCrunch argues that the deal won’t bring MySpace much traffic as there is nealry 100% overlap of both sites user bases.

Will Photobucket live up to its hefty price tag? It’s still hard to tell, especially when the jury is still out on whether MySpace has even lived up to its price tag.