MySpace deal was legit

That's what an L.A. Superior Court judge determined this morning. Fox Interactive says that Judge Carolyn Kuhl "fully dismissed" a suit filed by Brad Greenspan earlier this year that challenged the legitimacy of News Corp's purchase of MySpace. The social networking site had been part of a locally-based company called Intermix. Greenspan, who was Intermix CEO, has been getting way too much attention in recent days claiming that the company's directors had failed to carry out their fiduciary responsibility in cutting the $580 million deal. Greenspan is basically saying that if they had waited, MySpace could have been sold for more than that. It's a silly argument, considering that at the time Rupert Murdoch was being questioned in many quarters for spending too much, especially given that MySpace didn't have much of a business model for generating revenue (and still doesn't). This is a particularly bad day for Greenspan because it's looking like Google is very close to announcing the YouTube purchase for $1.65 billion.