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IGN Entertainment sold to Ziff Davis as News Corp continues to shed its digital properties

IGN Entertainment (STOCK)

It turns out the rumors were true. IGN Entertainment, parent company of websites like IGN, Gamespy, AskMen.com, and File Planet, has been sold off to Ziff Davis. J2 Global, which owns Ziff Davis, made the acquisition from Rupert Murdoch's News Corp. Ziff Davis, the publisher of sites like PC Magazine and ExtremeTech, will be bringing gaming website 1UP back into to fold after it sold the site to Hearst in 2009 (the site was later sold to IGN).

The sale is the latest move for behemoth News Corp to strip itself of some of its digital properties. The most high-profile sale was that of MySpace in 2011, for which it incurred what's estimated to be a nearly $545 million loss. CEO Rupert Murdoch later admitted that the company had "screwed up in every way possible" with the social media site. The changes come amid plans for News Corp to split the publishing and entertainment sides of its business. Neither J2 Global nor News Corp have revealed the cost of the acquisition of IGN Entertainment, but reports say the deal was for less than the $100 million News Corp sought.

The Verge
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