Posted By Robert G. about 1 year, 1 month ago
Update: Some representatives of both IGN and J2 Global have responded to the sale, according to VG24/7. Ian Chambers, VP, International at IGN had this to say:
“Joining Ziff Davis’s world-class digital media portfolio further strengthens IGN and AskMen’s growing presence in international markets. Alongside our local teams in the UK and Australia, we have developed a global network of expert publishing partners that deliver locally relevant content in 10 languages and over 40 countries. By combining our forces we will reach a greater audience of males 18-34 than ever before.”
Finally, J2 Global CEO Hemi Zucker stated:
“This is a transformative deal for our digital media business. 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.”
Original Story: IGN, the online giant in entertainment media on the internet, has been sold by its parent company. News Corp. chair Rupert Murdoch has sold off most of the entertainment division, including IGN and subsidiaries Gamespy and AskMen.com to the newly incarnated Ziff Davis, now owned and operated by J2 Global.
Ziff Davis, if you can remember, used to run EGM and 1UP before facing bankruptcy back in 2009. Both EGM and 1UP were eventually sold to the Hearst Corporation, leading to Ziff Davis to be restructured by J2 Global after they purchased the bankrupt company in late 2012 for over $167 million. Ironically, in 2011 Hearst Corporation was absorbed by News Corp, IGN’s parent company, which basically lumps in 1UP in the deal with their former parent company, albeit in a restructured form.
So, all of this corporate shuffling essentially leads to a deal that is reportedly over $100 million for the sale. J2 Global is also citing that IGN and the rest of the websites in the deal have over 600 advertisers and 53 million monthly unique visitors globally, and hope to recoup their buying price through the ad revenue and visitor traffic. As for IGN and the rest, well we shall see if things change down the line.