IGN up for grabs
News Corp has been looking for a party that might be interested in buying its network of videogame and entertainment websites, also known as IGN. However, that search has resulted in nothing so according to the Wall Street Journal News Corp has now partnered up with investment bank Allen & Co to have an auction held for the website network.
The entire network is expected to raise 100 million dollar when sold which is a whole lot less than the 650 million News Corp paid when they acquired IGN back in 2005. And then we’re not even counting the more recent acquisition of UGO (including 1Up.com) which has also been integrated into IGN.
According to the Wall Street Journal there are a couple of parties that have shown “some interest” in the auction, including Break Media and SAY Media but seeing the word “some” being mentioned doesn’t really give much confidence that a sale (even when through auction) would see IGN getting a new owner.
Putting up an auction to sell IGN? They REALLY must want to get rid of them… News Corp themselves didn’t want to comment on the matter but if they can’t find a buyer at all, you may want to start wandering how long before they’ll pull the plug. And if a buyer is found, how fast things will be taken apart and sold off or closed with only some bare version of IGN remaining.
The future of the biggest gaming & entertainment network doesn’t look all too bright if you ask us.