Thursday, September 08, 2005

Fox goes gaming

Now here's a little tidbit of information that's sure to make waves at the GameSpy water cooler. After a lot of speculation, rumour, and smokescreens, the word came down today that Rupert Murdoch's News Corp. (home of all things Fox) has officially announced that it will be aquiring IGN Entertainment for a price of around $650 million. IGN Entertainment is the home of IGN (naturally), GameSpy, and Rotten Tomatoes.

The move comes hot on the heels of News Corp.'s recent aquisition of Intermix, the owner of social networking site MySpace. Back in July, IGN had filed with the SEC to offer up shares of stock in an initial public offering. Obviously, that IPO is no longer an issue, as the deal with News Corp. is projected to be finalized before the end of the fourth financial quarter.

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