Dwhitten
09-10-2005, 06:09 PM
News Corp. has decided to get their hands wet in the video game industry, and have decided to pay $650 million in cash for the entire IGN network (a major online publisher of video game websites). This also comes after News Corp. spent $580 million in cash to buy Intermix Media Inc., owner of popular social network site, MySpace.com.
CEO of IGN, Mark Jung has stated that IGN will more than likely expand its staff of over 320 employees and will also take advantage of their new joint advertising and promotional agreements. IGN decided to pick News Corp. over many other suitors due to their passion for the Internet and their ideas for expansion among younger audiences.
"The combination of MySpace and IGN, for instance, are going to dominate the connection to young audiences online,'' Jung said."The audience is quickly drifting away from traditional media to the Internet,'' Jung said. "Young adults only have so many hours in the day and they are spending more time on the Internet. If you ignore this trend, you are locked out of the market.''
Here is a rundown of most of the sites within IGN's network:
IGN.com, GameSpy, GameSpy Arena, FilePlanet, TeamXbox, 3D Gamers, Direct2Drive, GameStats.com, and AskMen.com. These sites will join the MySpace network, along with News Corps. broadcast TV network, Fox.
The merger is expected to increase U.S. web traffic by nearly 70 million users a month. Everyone will be connected through a network of chats, comments, blogs, file sharing, downloading games, and many more.
CEO of IGN, Mark Jung has stated that IGN will more than likely expand its staff of over 320 employees and will also take advantage of their new joint advertising and promotional agreements. IGN decided to pick News Corp. over many other suitors due to their passion for the Internet and their ideas for expansion among younger audiences.
"The combination of MySpace and IGN, for instance, are going to dominate the connection to young audiences online,'' Jung said."The audience is quickly drifting away from traditional media to the Internet,'' Jung said. "Young adults only have so many hours in the day and they are spending more time on the Internet. If you ignore this trend, you are locked out of the market.''
Here is a rundown of most of the sites within IGN's network:
IGN.com, GameSpy, GameSpy Arena, FilePlanet, TeamXbox, 3D Gamers, Direct2Drive, GameStats.com, and AskMen.com. These sites will join the MySpace network, along with News Corps. broadcast TV network, Fox.
The merger is expected to increase U.S. web traffic by nearly 70 million users a month. Everyone will be connected through a network of chats, comments, blogs, file sharing, downloading games, and many more.