News just in!

AOL, the internet arm of Time Warner, has agreed to buy Bebo for $850m in cash as it gears up to entice advertisers to the popular social networking site.

This is despite wobbles in confidence of the popular Facebook, social networking site and its recent drop i"n popularity (drop 5%) to 8.5":http://www.montagecomms.com/blogger/hannah_roberts/2008-02/ million in January.

Is this good value for money? I think that it is a steal as New corp bought Myspace for $580M three years ago!