September 08, 2005
Rupert goes shopping again...brings home IGN
Coming on the heels of the acquisitions of Intermix (MySpace) and Scout Media (Rivals.com), Fox Interactive Media (FIM) has announced another big buy--they've snatched up the young male-targeted IGN (formerly Snowball.com) for the plump sum of $650 million. IGN's properties include GameSpy, TeamXBox and AskMen.com, amongst others.
And judging by the post-sale rumors, it sounds like Fox and Rupert Murdoch are anything but done with their interactive buying spree. The latest talk circling is that FIM is looking for a home--something in a nice big portal to start compiling their many properties in. But don't be shocked if they can't find one (unless TimeWarner sells AOL to them, who would they buy that would be BIG enough to serve as the overarching FIM portal?) and wind up using Fox.com as the umbrella under which all FIM properties reside.
