News Corp. Sells Videogame/Entertainment Sites for Less Than $100 Million
In 2005, News Corporation bought IGN Entertainment — which operates IGN.com and Askmen.com, among others — for $650 million. Today, after months of trying to fetch a good bid for the sites, News Corp. settled for the best offer it could get. According to Bloomberg News, News Corp. sold IGN to Ziff Davis Inc. for less than $100 million. That has got to hurt.
For Ziff Davis (which already owns sites like PCMag.com and Geek.com) the deal gives it a chance to expand the company’s influence among males, its main target audience.
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