Ziff Davis Acquires IGN Websites
It was announced today that j2 Global ‘s subsidiary, Ziff Davis, has purchased the IGN Entertainment websites from News Corp. The amount of this transaction has not been disclosed. Sources close to the deal, however, say that the cost was under the $100 million News Corp. was asking for. Hemi Zucker, CEO of j2 Global, commented:
“This is a transformative deal for our digital media business. By combining two of the most storied organizations in tech, gaming and entertainment, we have created a very powerful company capable of producing and delivering content in all forms to an audience that marketers highly value.”
This purchase is expected to add to the 2013 earnings of j2 Global, minus the transition costs. It will be interesting to see what, if any, changes are made to IGN now that it’s in the hands of Ziff Davis.