News Corp. Sells IGN Videogame Sites to J2 Global's Ziff Davis
News Corporation has sold its IGN Entertainment websites to Ziff Davis's J2 Global, the companies announced on Monday.
The terms of the deal were not disclosed. But Bloomberg reported that J2 Global bought the stable of websites for less than the $100 million asking price.
News Corp. bought IGN's range of videogame and men's lifestyle properties -- which include IGN.com, UGO.com, 1UP.com and AskMen.com -- for $650 million in 2005.
However, J2 said the acquisition will double its revenues and increase its clout with male audiences.
"This is a transformative deal for our digital media business," Hemi Zucker, CEO of J2 Global, said in a statement. "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."
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