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Ziff Davis Acquires IGN

| 5 Feb 2013 13:58
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1UP.com, included in the deal, returns to Ziff Davis following its sale to UGO in 2009.

Earlier rumors that the entertainment giant News Corp. was looking to sell off IGN have now been confirmed. Ian Chambers, VP, International at IGN said alongside the announcement that "Joining Ziff Davis's world-class digital media portfolio further strengthens IGN and AskMen's growing presence in international markets." He claimed the deal would help the digital media outlet reach a greater audience of males aged 18-34 than ever before. Chambers did not disclose the amount that the property was sold for, but it is rumoured to be less than the $650 million News Corp. paid for it back in 2005.

Ziff Davis is owned by parent company J2 Global, who bought the conglomerate for $167 million last year. In an increasingly complex web of acquisitions, Ziff Davis has also regained control of 1UP.com. They sold the property to UGO back in 2009, which was in turn acquired by Hearst, which was in turn was acquired by News Corp., who have in turn included it in this week's deal with Ziff Davis.

The acquisition means that Ziff Davis now controls not only 1UP.com and IGN, but also GameSpy, FilePlanet, Direct2Drive, TeamXbox, AskMen, AppScout, DL.TV, ExtremeTech, Geek.com, GoodCleanTech.com, PC Magazine, and IT Toolbox. News Corp. owns many intellectual properties, ranging from MySpace to Fox News, but this latest deal leaves them with little in the way of digital gaming media.

J2 Global CEO Hemi Zucker also spoke today on the deal:

"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."

Source: VG247

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