News Corp. Sells IGN Websites to J2 Global’s Ziff Davis Unit
Feb. 4 (Bloomberg) -- News Corp. sold its IGN Entertainment websites to J2 Global Inc.’s Ziff Davis for an undisclosed amount.
The transaction will add to J2 Global’s 2013 earnings, excluding transition costs, the company said today in a statement. The price is less than the $100 million News Corp. sought for the business, people familiar with the deal said last week.
Rupert Murdoch, chairman and chief executive officer of News Corp., is leaving some businesses as his New York-based media company prepares to split into separate publishing and entertainment entities. IGN was once part of an interactive division that included MySpace.
IGN operates Gamespy.com, devoted to video games, and Askmen.com, which offers advice on sports and grooming.
News Corp. gained 1.5 percent to $28.16 on Feb. 1 in New York. The Class A stock has climbed 10 percent this year. J2 Global, which bought Ziff Davis publishing in November, rose 0.2 percent to $31.87 and has gained 4.2 percent this year.
--Editors: Cecile Daurat, James Callan