Ziff Davis Acquires IGN Network

February 4, 2013 by Alex Co

J2 Global, which owns Ziff Davis, has now bought out IGN from Newscorp.

Ziff Davis, former owners of gaming magazine Eletronic Gaming Monthly, has now bought IGN from News Corp — which is the parent company of Fox News,Twentieth Century Fox and The Wall Street Journal.

IGN's acquisition, which has different entities ranging from TV, films, and of course, games, also includes former Ziff Davis-owned site 1UP, GameSpy, Askmen, PCMag and more.

Here's what Ziff Davis parent company J2 Global CEO Hemi Zucker had to say:

This is a transformative deal for our digital media business…By combining two of the most storied organizations in tech, gaming and entertainment, we have created a very powerful company capable of producing and delivering content in all forms to an audience that marketers highly value.

Details of the deal has not been disclosed as of press time, but anonymous sources (via PandoDaily) state that it was well below News Corp's $100 milliom asking price, but that it was a cash offer. Also of note,we do knot know as of press time if IGN, 1UP, etc. will remain as separate entities or be rolled into one.

For reference, News Corp bought IGN back in 2005 for a cool $650 million, but since 2010, has had the entire network up on the market.

We hope for everyone at IGN's sake that no one loses their jobs and that the transition is as painless as possible.

Source: GamesIndustry