• ClickZ, Wednesday, November 22, 2006 11 AM

News Corp., which acquired MySpace parent Intermix for $580 million in July 2005, has now offloaded some of the assets that came with that deal. As it turns out, those properties are returning to former owner Richard Rosenblatt, who was chairman of Intermix.

More than 20 Web sites are included in the transaction, the financial details of which were undisclosed. Properties included Grab.com (a casual gaming site), FlowGo.com (an entertainment site), SoYouWanna.com and Focalex. Rosenblatt is reacquiring his old properties as part of his new venture, called Demand Media.

Demand Media is an aggregator of highly specialized content. Its strategy is to acquire Web properties with loyal niche audiences. It will sell ads from Google, Yahoo and other ad networks to make money, although the idea is to build up a large network of niche sites so it can sell ads at a premium. The new acquisitions can be bunched into three main verticals: how-to, entertainment and casual gaming.

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