On October 21 2012 10:15 AnomalySC2 wrote:
How did the value drop from 650m to 100m? I never felt any degrading vibes or anything from IGN, they seem to still be towards the top of the food chain in the media review site categories.
They were never worth $650m, this is just another example of News Corp failing when it comes to online acquisitions. See MySpace as another example. Bought for about $600,000,000, sold for $35,000,000.
It turns out "be a popular website" isn't on its own a business model that justifies paying $600,000,000. Who knew?