Sony’s potential acquisition of Club Penguin fails to materialize.
Slightly over a month ago, news that Sony was going to purchase Club Penguin, a child-friendly virtual world, for $500 million hit the internet. However, recent reports reveal that buyout talks have ended between the two companies. Allegedly, Club Penguin began to raise the price and Sony backed away from the high numbers. Rumors also estimate that another buyer may be playing a part in bidding up Club Penguin. Potential suitors include AOL, Disney and Viacom.