News Corp Outplays Viacom, Gets IGN
The media company will pay $650 million for the Internet gaming site network IGN, which owns GameSpy and Team Xbox.
Rupert Murdoch just pumped 2.6 billion quarters into broadening News Corp’s reach on the Internet. The powerful media patriarch has had his empire on a big buying spree, as it now adds IGN Entertainment to the fold, as the Wall Street Journal reported.
“(T)here is no greater priority for the company today than to meaningfully and profitably expand its Internet presence,” Mr. Murdoch told stock analysts during an August conference call. To that end, News Corp has had its checkbook out and made a string of purchases.
The company picked up IGN’s network, which includes game review site GameSpy, Xbox enthusiast destination Team Xbox, and game tips site IGN.com. News Corp also gets RottenTomatoes.com, an IGN property that focuses on movie reviews. Mr. Murdoch apparently beat Sumner Redstone and his Viacom Inc. to acquire IGN.
News Corp also purchased Intermix, owner of social networking site MySpace.com, for $580 million, and sports magazine and web site publisher Scout Media, recently. It was rumored that News Corp bid $3 billion for VoIP provider Skype, which rebuffed that offer and is now in talks with eBay on a possible sale for a similar amount.
David Utter is a staff writer for WebProNews covering technology and business. Email him here.