News Corp Partners with Bank to Sell Videogame/Entertainment Sites

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By Chris O'Shea Comment

As News Corp prepares to split its entertainment and publishing companies into their own entities, it’s looking to trim some fat. IGN Entertainment, which is a videogame/entertainment website, is part of that process. According to The Wall Street Journal, News Corp. is partnering with Allen & Co. — an investment bank — to sell IGN, after its own efforts failed to come up with a buyer.

Unfortunately for News Corp., IGN is only expected to fetch about $100 million, which is slightly less than the $650 million the company paid for the sites when it bought them in 2005.

Aside from IGN, other sites involved in the sale include AskMen.com, GameSpy.com, TeamXBox.com and VaultNetwork.com.