News Corp Buys Into Games
IGN Entertainment join Fox Interactive Entertainment
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Media conglomerate News Corp. has announced plans to acquire IGN Entertainment, of IGN.com and GameSpy.com fame. The move, which will cost around $650 million, will see IGN be the third Internet company to be swallowed by News Corp and will enable the company to move into the video game and cyberspace arenas with full force.
IGN Entertainment also ran various other lifestyle sites including the movie site RottenTomatoes.com and Men's site, AskMen.com. The acquisition of IGN Entertainment will see the company folded into News Corp.'s Fox Interactive Media and Mark Jung, IGN's current CEO will hold onto his position.
"With the acquisition of IGN and its 28 million unique users, we have gone a long way toward achieving two of our key strategic objectives in our efforts to become a leading and profitable Internet presence," said Murdoch, News Corp.'s chairman.
Source: Yahoo News/AFP
IGN Entertainment also ran various other lifestyle sites including the movie site RottenTomatoes.com and Men's site, AskMen.com. The acquisition of IGN Entertainment will see the company folded into News Corp.'s Fox Interactive Media and Mark Jung, IGN's current CEO will hold onto his position.
"With the acquisition of IGN and its 28 million unique users, we have gone a long way toward achieving two of our key strategic objectives in our efforts to become a leading and profitable Internet presence," said Murdoch, News Corp.'s chairman.
Source: Yahoo News/AFP
