Gamespot is reporting that IGN could be going up for auction. Yes, that IGN. According to the source they got from Wall Street Journal, IGN's owners (News Corp.) are working with investment bank Allen & Co. on an auction to sell IGN's network of video game and entertainment sites, following a year of failed efforts to produce a sales deal.
The rest of the article is as follows:
"According to the report, News Corp. publicly stated its intention to sell IGN Entertainment after news that it was preparing to restructure its internal publishing and journalism assets, separating them from its media and entertainment businesses.
News Corp. bought IGN in 2005 for a price tag of $650 million (a deal that also included other sites, such as GameSpy.com and TeamXbox.com), but now hopes to sell the network of video game and entertainment sites for around $100 million.
According to the report, Break Media and SAY Media are among potential buyers for IGN, although sources close to News Corp. told the paper that other potential bidders could include private equity funds.
Sales negotiations were affected by turnover at both IGN and News Corp., with the departure of IGN chief executive Roy Bahat in August, and the resignation of News Corp.'s chief digital officer, Jon Miller."
Being a great fan of IGN and GameSpy, I hope they will both be able to continue doing their thing and this will just be a change of ownership.
No comments:
Post a Comment