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News Corp. to buy IGN

September 8, 2005

Oh, Rupert...

�

Reported yesterday by the Wall Street Journal, and filed and reported this morning by Reuters, News Corp. has agreed to pay $650 million to acquire IGN Entertainment Inc., an Internet video game and entertainment company.�

�

It seems that Rupert Murdoch’s company beat out Viacom Inc. for IGN.

�

Among IGN’s Web sites are IGN.com, GameSpy.com, TeamXbox.com and�Rottentomatoes.com, the latter being fairly popular among movie fans.

�

This is but the latest in a string of companies with strong Internet presence that Rupert has recently gobbled up. A few months ago News Corp. agreed to purchase Intermix Media Inc., which runs the more-upon-more popular MySpace.com. As well, last month News Corp. agreed to acquire Scout Media Inc., a publisher of local sports magazines and more than 200 local team Web site, as reported by Reuters.

�

IGN has filed for an initial public offering; although, according to the SEC, the company has yet to turn a profit, having lost $14.3 million on sales of $42.9 million in 2004, according to the WSJ.

�

(I don’t know why the name has stuck with me for so many years, but I find slight felicity in the fact that a recurring ~~villianous~~�agenda-driven MacGyver�character too was named Murdoc (sic.).)�

�

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DRB

Tags: news corp agrees to buy ign entertainment
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