Blog Post

News Corp.-IGN: Details

News Corps. said no to IGN at $1 billion and again at $800 million. At that price, the company was willing to stick with the casual gaming that comes along with Intermix. But I hear an approach within the last couple of weeks at a price below $800 million and closer to the one they ended up with — $650 million — changed the playing field.
Viacom, which also said no at the higher end, was the other serious option for IGN. The prices the two media and entertainment companies were willing to pay were similar, possibly higher on Viacom’s end, but IGN opted for Fox Interactive Media as a better fit. It looks like the upcoming acquisition of MySpace.com gave FIM an edge.
As for FIM, between MySpace.com and IGN plus sports (including recent purchase Scout) and shows like “American Idol,” Fox online will be must-stop shopping for anyone trying to reach the 18-34 set — and their younger pals, tweens and teens. Update: Should have mentioned that current management is expected to stay in place, as is the case with all of FIM acquisitions. More to come …

The purchase is sure to be a hot topic when News Corp.’s top management meets with FIM’s senior team during a summit in Carmel this Friday and Saturday. Execs from IGN, Intermix — including MySpace.com, and Scout should be on hand along with a roster of outside guest speakers (industry experts, analysts, execs). It’s all part of the continuing effort to make the internet strategy a company-wide commitment.

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