Rupert Murdoch’s News Corp has agreed to buy Internet firm Intermix Media in a deal worth $580m.

The deal, which should be completed later this year, will give Murdoch control of sites such as MySpace.com, Flowgo.com, MadBlast.com and Grab.com.

MySpace.com, the fifth most-viewed internet domain in the US, allows people with common interests to seek dates, friendship and professional relationships.

"Intermix is an important acquisition for News Corp, instantly doubling the number of visitors to our sites and providing an ideal foundation on which to meaningfully increase our internet presence," said News Corporation's chairman and chief executive officer, Rupert Murdoch.

"Intermix's brands, such as MySpace.com, are some of the web's hottest properties and resonate with the same audiences that are most attracted to Fox's news, sports and entertainment offerings.

"We see a great opportunity to combine the popularity of Intermix's sites, particularly MySpace, with our existing online assets to provide a richer experience for today's internet users."

News Corp will pay $12 a share, a 12 per cent premium over Intermix's closing price on the American Stock Exchange on Friday.

Shares in Intermix rose by 10 per cent, while News Corp shares fell 6 cents to $17.41 following the announcement.

"We are very excited to combine our unique Internet reach and assets with one of the most exciting media companies in the world. We look forward to continuing to lead the market in unique content, social networking, and analytical marketing," said Richard Rosenblatt, Intermix Media’s chief executive officer.