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Anime News

News Corp. Buys IGN For $650 Million
Date: 9/9/2005
News Corp., parent of the Fox TV networks, Harper Collins, TV Guide, and a host of other media and content companies worldwide, has acquired IGN Entertainment, Inc. for $650 million. IGN is the parent of RottenTomatoes.com, IGN FilmForce, and videogame sites GameSpy.com, IGN.com, and Team Xbox.com.



IGN came out of the dot com boom of the late 90s as a content aggregator that sold ads on its own and affiliated sites in a variety of categories. After a public offering as Snowball.com, the stock tanked (see "Dot Com Dispatch -- July, 2000"), the company went private and went back to calling itself IGN, and refocused on content for young adult males. Looks like some of the frenzied estimates of the future valuations of dot com companies made in 1999 and 2000 were right, at least in principle.
Source: ICv2