New York (AFP) May 5, 2011
Rupert Murdoch's News Corp. announced Thursday the acquisition of Hearst Corp.'s UGO Entertainment, expanding its reach over online videogame news.
News Corp.'s videogame media unit IGN Entertainment will operate UGO properties such as UGO.com and 1UP.com, Hearst and News Corp. said in a statement.
The agreement between Hearst and News Corp. calls for Hearst to become a shareholder of IGN and be an "active participant in the development of the business," they said.
Together, IGN, which runs sites such as IGN.com, GameSpy, FilePlanet, Direct2Drive and TeamXbox, and UGO will reach an audience of more than 70 million visitors a month, they said.
"This instantly catapults us to another level and positions us to serve and entertain tens of millions more fans," IGN Entertainment president Roy Bahat said.
Ken Bronfin, president of Hearst Interactive Media, said the combination of IGN and UGO "will create the complete 'go to' online destination for videogame enthusiasts."
The News Corp.-owned technology blog All Things Digital said the acquisition of UGO may be part of a plan by News Corp. to eventually spin off IGN.com into a separate company.
"The goal is to create a standalone Web business that will focus primarily on videogame news, reviews, and culture," All Things Digital said.
News Corp. is currently seeking a buyer for another of its major Web properties -- Myspace, which it bought in 2005 for $580 million.
News Corp. purchased IGN for $650 million a few months after the Myspace deal while Hearst bought UGO for $100 million in 2007, according to All Things Digital.
Share This Article With Planet Earth
Space Technology News - Applications and Research
Next up, paper-like flexible phones
Kingston, Ontario (UPI) May 4, 2011
In a few years, cellphones and tablet computers will fold in your pocket like paper, a Canadian media developer says. Roel Vertegaal, director of Human Media Lab at Queen's University in Kingston, Ontario, is presenting his prototype, the PaperPhone, at the Association of Computing Machinery's Computer Human Interaction conference in Vancouver next week. "This is the future. Ever ... read more
News Corp. buys videogame news sites from Hearst|
Android smartphones widen lead in US market
Fusion of work and play shapes Lenovo laptops
Long queues for iPad 2 in China
Emirates lofts satellite to boost military
LockMart Battle Command System Replaces US Army Legacy System
Lockheed Martin Demonstrates Integration of MONAX Communications System with Air Force Base Network
Preparations Underway As US Army Gears Up For Large-Scale Network Evaluations
Arianespace to launch ABS-2 in 2013
GSAT-8 put through its paces
Ariane Ariane 5 enjoys second successful launch for 2011
Ariane rocket launches two telecoms satellites
Apple update fixes iPhone tracking "bugs"
Russia, Sweden to boost space cooperation
GPS Operational Control Segment Enters Service With USAF
Apple denies tracking iPhones, to fix 'bugs'
Japan quake, Mideast turmoil hit air travel: IATA
Korean Air to spend $1.58 billion on passenger jets
Brazil's key airports set to go private
Extreme testing for rotor blades
NRL Scientists Achieve High Temperature Milestone in Silicon Spintronics
Intel chip breakthrough a boon for mobile gadgets
China's Huawei sues ZTE for patent infringement
Zeroing in on the Elusive Green LED
Internet satellite images available to all
Esri and DOI Introduce Landsat Data for the World
Satellites Reveal Tornado Tracks in Georgia, Mississippi and Alabama
NASA Mission Seeks to Uncover a Rainfall Mystery
Slow clean up for Argentina's worst environmental stain
Public will push China on environment: EU climate chief
Chemical in plastic linked to wheezing in childhood
Crude oil chemical linked to heart defect in babies
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|