News Corp. to Acquire IGN Entertainment for $650M

Sep 8, 2005  •  Post A Comment

Rupert Murdoch’s News Corp. said Thursday it is paying $650 million cash to acquire IGN Entertainment, an online company, as the media giant looks to further bolster its presence online by entering the gaming space. The purchase comes on the heels of two other recent Web deals struck by News Corp.

IGN owns several major video-game properties, including IGN.com, GameSpy, GameSpy Arena, FilePlanet, TeamXbox and 3D Gamers. In addition, IGN owns several entertainment assets, including movie-themed Web sites IGN Film Force and Rotten Tomatoes as well as male lifestyle Web site AskMen.com. The company also provides technology for online video gaming.

A few weeks ago News Corp. agreed to acquire Intermix Media, which owns several online Web sites, including MySpace.com. Later the company purchased Scout Media, a college sports Web site.