Roy Bahat, president of News Corp.’s IGN for the past five years, is leaving the company.
David Martin, the company’s CFO, will take over Bahat’s role as president for the time being; IGN did not say how long it would take to permanently fill the position. According to AllthingsD.com, which first broke the news of the exec’s departure, Bahat has been attempting to engineer a spinoff of IGN from the rest of News Corp. over the past year or so, to no avail.
News Corp. acquired IGN in 2005 for $650 million. While it never quite lived up to that MySpace-era price tag, the site has built a solid brand that is a must-buy for advertisers looking to promote new video games or movies to young men. Under Bahat, IGN built out a sizable video output as well, including one of the nearly 100 original YouTube channels launched this year.
In a memo to IGN employees on Friday, Bahat—who will remain on IGN’s board—was frank that it was time for a new voice to lead the company, calling his choice “difficult.”
"So why am I leaving? It has become clear that now is the time to refresh the process of looking at strategic options for this business," wrote Bahat. "David will do that and more."
Bahat joined IGN in 2007 after previously serving in News Corp.’s business development office. Before that, Bahat worked for the Bloomberg administration in New York and even worked to bring the 2012 Olympics to the city.