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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
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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.
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United States15275 Posts
What accounts for the precipitous drop in value?
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Global financial crisis anyone?
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East Gorteau22261 Posts
On October 17 2012 08:07 LuckyFool wrote:
Wait IGN was purchased in 2005 for $650 million and is up for sale for $100mill now? Have they really done that bad as a business overall? Hoping I'm just reading that wrong or something.
Yeah, I was hoping I misunderstood that.
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iNcontroL
USA29055 Posts
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!
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Overvalued like many other things in eSport at the moment. I'm looking at you Riot.
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It says they sold other businesses like Rotten Tomatoes. How much total were they all worth?
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On October 17 2012 08:11 iNcontroL wrote:
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!
I got 5k but u can still be ceo 
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On October 17 2012 08:07 CosmicSpiral wrote:
What accounts for the precipitous drop in value?
This is purely speculation but I feel the internet is the cause. What do I mean? Well I think people have so much freedom with how they investigate games before they purchase them now that just wasn't available 10-15 years ago when companies similar to IGN thrived. You can use youtube to watch gameplay, reviews, first impressions, talk shows, let's plays, etc. Then you have fansites and forums much like teamliquid, etc. Companies like IGN have a lot more competition and have a lot less power over representing the gaming community now. Competition also is popping up quite rapidly thanks to the relative ease of creating a website today.
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Hmm, kind of depressing seeing those numbers :/ Wouldn't have expected that. I love my IGN.
On October 17 2012 08:11 iNcontroL wrote:
ALRIGHT FOLKS. I got like, 3k$? WHo else is in on this with me!!?!
I found 45 cents in the cushions, let's do this.
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United States23455 Posts
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Well crap. Goodbye IPL and IPL-related tourneys, I loved you so.
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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:
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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).
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I have 3k, but we are a little short.
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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.
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SUch a bad new Fuck, I love IPL and FightClub and everything IPL have done for us
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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!
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On October 17 2012 08:15 Fionn wrote:
Incoming EG-IGN?
Oh lord...what a pain that would be x.x
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EPT
