Ziff Davis Media Buys Out IGN
According to Games Industry International, Ziff Davis Media, which previously owned 1UP, has now purchased IGN from News Corp. The report states that IGN was acquired for $650 million, with News Corp. apparently having been looking for a buyer since October 2012.
The IGN network will now fall under the umbrella of parent company J2 Global, joining other publications such as PC Mag, ExtremeTech, Computer Shopper and Geek.com.
“This is a transformative deal for our digital media business,” said J2 Global CEO Hemi Zucker. “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.”
According to a report from AllThingsD, the asking price was actually $100 million higher, but since it appears to have been a cash offer, the deal was struck.