More details are emerging about IGN’s reported $10 million buyout of film review and community site Rotten Tomatoes (the news here). Rotten Tomatoes CEO Patrick Lee said the companies had been talking about a merger for more than a year.
Despite running a bare bones operation with just 10 employees and competing with larger, better-funded corporations, Rotten Tomatoes was the 12th most popular movie site in the United States, with 2.2 million unique visitors in May.
Rotten Tomatoes has revenue of about $2 million a year, primarily through advertising but also from commissions from online retailers that sell movie DVDs or movie tickets to customers referred from Rotten Tomatoes’ site.
Company release: “IGN’s acquisition of Rotten Tomatoes will offer new opportunities for the game publishers, consumer product companies and Hollywood studios that already advertise on the media company’s online properties.”
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