News Corporation sells IGN Entertainment
Although the sale price hasn’t been announced, the figure is believed to be considerably lower than the $650 million News Corp. paid for IGN in 2005. According to PandoDaily, Ziff Davis shelled out even less than the $100 million that had been floated as an asking price. IGN had been on the market for six months.
The deal includes all of IGN’s websites devoted to video games, comic books, film, television and men’s lifestyle, including IGN.com, UGO.com, 1UP.com and AskMen.com. In some respects, it brings the two companies full circle as, before its acquisition by j2, Ziff Davis sold 1Up to UGO Entertainment, which was then acquired from Hearst Corporation by IGN in 2011.
“This is a transformative deal for our digital media business,” j2 Global CEO Hemi Zucker said in a statement. “By combining two of the most storied organizations in tech, gaming and entertainment, we have created a very powerful company capable of producing and delivering content in all forms to an audience that marketers highly value.”