IGN reportedly up for auction
Break Media and SAY Media said to head a list of potential buyers.
Michael Plant is chief editor and writer of gaming ezine and blog GamesCatalyst.com, as well as editor of 'The Independent'’s games review printed in the Saturday supplement 'Information'. Established in February 2011, Games Catalyst endeavours to bring its unique brand of fact and satire to the videogaming community and, in tandem with 'The Independent', hopefully turn a few non-believers on to gaming while we’re at it.
Wednesday 17 October 2012
News Corp. is working with investment bank Allen & Co. to auction off its IGN Entertainment network of videogame and entertainment industry websites according to a report on The Wall Street Journal.
The move comes after efforts to sell off IGN and its associated websites to private buyers have fallen through, in part due to the departure of Roy Bahat, the firm’s president, leading to News Corp. to announce the site’s availability for offers in the region of $100m.
News Corp. first acquired IGN for $650m in 2005 but the WSJ’s report confirms that News Corp. is restructuring its internal publishing and journalism assets leaving IGN surplus to requirements at the media giant.
The report adds that Break Media and SAY Media head a list of potential buyers.
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