September 08, 2005
News Corp. Buys IGN
News Corp. announced that they will be IGN Entertainment for $650 million in cash. IGN owns IGN.com, Gamespy, Gamespy Arena, Fileplanet, Askmen.com, and Rotten Tomatos. I guess I should of started this site earlier and sell myself to IGN to get a piece of that action. Oh well.
Rupert Murdoch, News Corporation's Chairman and Chief Executive Officer, said: "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. First, we have significantly enhanced our online reach, strengthening our position as the fifth most trafficked presence on the web. We also become the fourth largest network in terms of monthly page impressions. And second, we have furthered our strategy to leverage the unique competencies the company enjoys with its news, sports, and entertainment assets to create a leading internet destination. By acquiring IGN and its compelling sites, we now have top entertainment sites to go along with FOXSports.com, as well as our myriad news sites, headlined by FOXNews.com."
Mark Jung, IGN Entertainment's Chief Executive Officer, commented: "We believe that Fox Interactive Media is an ideal fit with IGN Entertainment. With this combination, our users will enjoy access to a broad array of content and services covering video games, music, movies, sports and news, and our advertisers will benefit from enormous reach into a highly sought-after demographic. We are thrilled with this acquisition and can't wait to get started."
