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Active: 1274 users

IGN on sale for $100 million by News Corps

Forum Index > SC2 General
Post a Reply
1 2 3 4 5 7 8 9 Next All
Dr.Sin
Profile Joined October 2010
Canada1126 Posts
Last Edited: 2012-10-16 23:08:56
October 16 2012 23:05 GMT
#1
It is unclear what this will mean for the IPL, but IGN is a fairly well established giant.

That it was purchased for substantially more worries me about its business in general and that whoever will pick it up may make massive cuts.

"Unable to find a buyer, News Corp. expecting to sell gaming and entertainment sites for around $100 million.

IGN is going up for auction, according to a Wall Street Journal report. After a year of fruitless talks with potential bidders, parent company News Corp. is working with investment bank Allen & Co. to auction off the group of entertainment and video game websites.

News Corp purchased IGN in 2005 for $650 million. Last year, the company also acquired online gaming network UGO and folded its properties (including 1Up.com) into its one-time rival. IGN has also sold a handful of businesses in recent years, including Rotten Tomatoes, Direct2Drive, and GameSpy Technologies. The Wall Street Journal (another News Corp. publication) reports that IGN is expected to sell for about $100 million now.

The paper reports that a number of companies have expressed "at least some interest" in picking up IGN, including Break Media and SAY Media. Recent turnover in IGN management, including president Roy Bahat and News Corp. chief digital officer Jon Miller, was said to have hampered the sales process.

GamesIndustry International contacted IGN for comment, but was referred to a News Corp. representative. This story will be updated should they respond."

http://www.gamesindustry.biz/articles/2012-10-16-ign-going-up-for-auction
LuckyFool
Profile Blog Joined June 2007
United States9013 Posts
October 16 2012 23:07 GMT
#2
Wait IGN was purchased in 2005 for $650 million and is up for sale for $100mill now? Have they really done that bad as a business overall? Hoping I'm just reading that wrong or something.
CosmicSpiral
Profile Blog Joined December 2010
United States15257 Posts
October 16 2012 23:07 GMT
#3
What accounts for the precipitous drop in value?
WriterWovon man nicht sprechen kann, darüber muß man schweigen.
Doso
Profile Joined March 2008
Germany765 Posts
October 16 2012 23:10 GMT
#4
Global financial crisis anyone?
Zealously
Profile Blog Joined October 2011
East Gorteau22261 Posts
October 16 2012 23:11 GMT
#5
On October 17 2012 08:07 LuckyFool wrote:
Wait IGN was purchased in 2005 for $650 million and is up for sale for $100mill now? Have they really done that bad as a business overall? Hoping I'm just reading that wrong or something.


Yeah, I was hoping I misunderstood that.
AdministratorBreak the chains
iNcontroL *
Profile Blog Joined July 2004
USA29055 Posts
October 16 2012 23:11 GMT
#6
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!
Implenia
Profile Joined August 2012
Austria3846 Posts
October 16 2012 23:11 GMT
#7
Overvalued like many other things in eSport at the moment. I'm looking at you Riot.
plasmidghost
Profile Blog Joined April 2011
United States15341 Posts
October 16 2012 23:13 GMT
#8
It says they sold other businesses like Rotten Tomatoes. How much total were they all worth?
“cours vite, camarade, le vieux monde est derrière toi”— run fast, comrade, the old world is right behind you
Mr.Apathetic
Profile Joined August 2012
Australia11 Posts
October 16 2012 23:13 GMT
#9
On October 17 2012 08:11 iNcontroL wrote:
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!


I got 5k but u can still be ceo
Imperfect1987
Profile Joined August 2010
United States558 Posts
October 16 2012 23:13 GMT
#10
On October 17 2012 08:07 CosmicSpiral wrote:
What accounts for the precipitous drop in value?


This is purely speculation but I feel the internet is the cause. What do I mean? Well I think people have so much freedom with how they investigate games before they purchase them now that just wasn't available 10-15 years ago when companies similar to IGN thrived. You can use youtube to watch gameplay, reviews, first impressions, talk shows, let's plays, etc. Then you have fansites and forums much like teamliquid, etc. Companies like IGN have a lot more competition and have a lot less power over representing the gaming community now. Competition also is popping up quite rapidly thanks to the relative ease of creating a website today.
The keyboard is mightier than the pen.
lubu42
Profile Blog Joined October 2009
United States314 Posts
October 16 2012 23:14 GMT
#11
Hmm, kind of depressing seeing those numbers :/ Wouldn't have expected that. I love my IGN.

On October 17 2012 08:11 iNcontroL wrote:
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!


I found 45 cents in the cushions, let's do this.
SlayerS_BoxeR <3
Fionn
Profile Blog Joined October 2009
United States23455 Posts
October 16 2012 23:15 GMT
#12
Incoming EG-IGN?
Writerhttps://twitter.com/FionnOnFire
AnachronisticAnarchy
Profile Blog Joined July 2011
United States2957 Posts
October 16 2012 23:15 GMT
#13
Well crap. Goodbye IPL and IPL-related tourneys, I loved you so.
"How are you?" "I am fine, because it is not normal to scream in pain."
-Kyo-
Profile Blog Joined August 2010
Japan1923 Posts
October 16 2012 23:16 GMT
#14
On October 17 2012 08:10 Doso wrote:
Global financial crisis anyone?


..It's news corp.. aka Rupert Murdoch. Not global, but definitely a crisis of their own. Seems as if it did drop in price, not as much as it appears as yeah they did note other previous sales prior to IGN itself, but still @_@. Hope this doesn't mess up IPL D: D:
Anime is cuter than you. Legacy of the Void GM Protoss Gameplay: twitch.tv/kyo7763 youtube.com/user/KyoStarcraft/
TL+ Member
PhoenixVoid
Profile Blog Joined December 2011
Canada32589 Posts
October 16 2012 23:16 GMT
#15
On October 17 2012 08:13 Imperfect1987 wrote:
Show nested quote +
On October 17 2012 08:07 CosmicSpiral wrote:
What accounts for the precipitous drop in value?


This is purely speculation but I feel the internet is the cause. What do I mean? Well I think people have so much freedom with how they investigate games before they purchase them now that just wasn't available 10-15 years ago when companies similar to IGN thrived. You can use youtube to watch gameplay, reviews, first impressions, talk shows, let's plays, etc. Then you have fansites and forums much like teamliquid, etc. Companies like IGN have a lot more competition and have a lot less power over representing the gaming community now. Competition also is popping up quite rapidly thanks to the relative ease of creating a website today.


I think this is the closest to an answer we can get without delving too hard into the business of gaming websites. IGN is no longer a monopoly in the world, there are literally thousands of gaming websites just like IGN who offer similar services. IGN is only really different from the others in being more respected, established and wealthier (IPL is a unique venture amongst videogame websites I think).
I'm afraid of demented knife-wielding escaped lunatic libertarian zombie mutants
lordofsoup
Profile Joined January 2012
United States159 Posts
October 16 2012 23:17 GMT
#16
I have 3k, but we are a little short.
NOHUNTERS
Solarsail
Profile Joined July 2012
United Kingdom538 Posts
October 16 2012 23:17 GMT
#17
Sales of console hardware and game software are FAR down from their ~2006-07 peaks with Wii and DS. If it wasn't for CoD the HD consoles wouldn't be doing so well either. It makes sense that the value of coverage of games is correspondingly down. Also we know what the hardware is capable of now, so it's hard to get excited about new games being better when they could have been made 5 years ago the same. IGN lives on hype and coverage and previews.
Everyone left over is a member of the OP race and you have to figure out which one of them is the least OP. - CosmicSpiral
tuho12345
Profile Blog Joined July 2011
4482 Posts
October 16 2012 23:18 GMT
#18
SUch a bad new Fuck, I love IPL and FightClub and everything IPL have done for us
Integra
Profile Blog Joined January 2008
Sweden5622 Posts
October 16 2012 23:18 GMT
#19
On October 17 2012 08:13 Mr.Apathetic wrote:
Show nested quote +
On October 17 2012 08:11 iNcontroL wrote:
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!


I got 5k but u can still be ceo

I'll throw in 10k as long as I get a position in Esports management!
"Dark Pleasure" | | I survived the Locust war of May 3, 2014
GhandiEAGLE
Profile Blog Joined March 2011
United States20754 Posts
October 16 2012 23:19 GMT
#20
On October 17 2012 08:15 Fionn wrote:
Incoming EG-IGN?


Oh lord...what a pain that would be x.x
Oh, my achin' hands, from rakin' in grands, and breakin' in mic stands
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