Just as Rupert Murdoch's News Corp purchased MySpace last year for $580m, then Emap purchases YoSpace at a steal for £8.7m. Here's the press release.
Emap is a print and digital publishing house. YoSpace provides a platform for mobile user generated content - best known for 3’s (ie the mobile operator) SeeMeTV which allows mobile users to share and get paid for mobile video clips. Customers receive 1p for every clip watched - 3 has paid out £100,000 up to March last year.
YoSpace also provided the platform for O2’s Look AT Me TV service. And topped the 'UK 50 to Watch in Mobile 2007’ (sponsored by O2) published earlier this month.