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http://pandodaily.com/2013/02/01/sources-ziff-davis-is-close-to-buying-ign/
Ziff Davis the reported buyer for below 100 million. It previously sold for 650 million.
It’s no secret that News Corp. has been trying to sell gaming portal IGN for some time. It even floated an aspirational price to the Wall Street Journal: $100 million.
We’ve heard all sorts of rumors about who the buyer could be since that article — even including at one point the raging LA upstart Machinima.
PandoDaily has learned from two sources that a deal is finally very close and that the buyer is one people weren’t expecting: Ziff Davis. We couldn’t get confirmation of the price, but we’ll keep digging. We’re told it’s below the $100 million asking price, but that it was appealing anyway because it was a cash offer.
Ziff Davis is a digital media company that operates PCMag Digital Network among other properties focusing on the technology space. The company, itself, was acquired by business cloud services J2 Global Communications in November 2012 for $167 million in cash.
It will be interesting to see if/how this affects IPL. I figure it will hurt more than anything not having the backing of of a giant like NewsCorp.
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Hopefully IPL stays strong, especially with all the new production value to IPL recently
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Yeah I'd love a statement from David Ting on if it could affect IPL.
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IGN was previously sold for 650 million?
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On February 02 2013 08:25 ssg wrote:
It will be interesting to see if/how this affects IPL. I figure it will hurt more than anything not having the backing of of a giant like NewsCorp.
Don't think so. If they wanted to sell it all along, they didn't invest that much money anymore into IGN.
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T.O.P.
Hong Kong4684 Posts
On February 02 2013 08:30 ProV1 wrote:
IGN was previously sold for 650 million?
Bought by News Corp for 650 million in 2005.
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I'm not a business expert or anything but I would assume that this buy out would have absolutely no short term effects on IPL and such, but it may have long term effects down the track?
Which is to say that if anything bad were to come of this it would be a few months down the track, and with plenty of opportunity for intervention, so to speak.
However it it's also possible that it works out for the better, should their buyer happen to want to grow the site and its (currentl) projects.
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It could definitely affect them with new ownership.
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my prediction? two months from now, we see the thread "Evil Geniuses buys IPL." seems legit.
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On February 02 2013 09:00 partydude89 wrote:
my prediction? two months from now, we see the thread "Evil Geniuses buys IPL." seems legit.
If EG has almost 100 million dollars my lord (I know they don't)  .
Also I wonder how this will affect future IPL's if any at all.
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On February 02 2013 08:32 T.O.P. wrote:Show nested quote +On February 02 2013 08:30 ProV1 wrote:
IGN was previously sold for 650 million? Bought by News Corp for 650 million in 2005.
I don't get it : news corp bought ign for 650 mill and they're selling it for 100 ?
What happened ? Did ign loose that much value in those 8 years ?
Or do they just want to get rid of it real quick ?
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On February 02 2013 09:04 Marti wrote:Show nested quote +On February 02 2013 08:32 T.O.P. wrote:On February 02 2013 08:30 ProV1 wrote:
IGN was previously sold for 650 million? Bought by News Corp for 650 million in 2005. I don't get it : news corp bought ign for 650 mill and they're selling it for 100 ? What happened ? Did ign loose that much value in those 8 years ? Or do they just want to get rid of it real quick ?
They bought IGN Entertainment, which is the bundle of many sites, such as IGN, Gamespy, Askmen,.... for 650mil.
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Hopefully this doesn't affect IGN badly, I like their gaming news and reporting as much as I love IPL.
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This may be an odd cross promotion but David Ting will be on Climbing The Ladder on Tuesday to discuss IPL6, it may be beneficial to tune in to that. Perhaps a caller will ask about it or they'll ask the question if its asked enough in their thread. It's probably the best chance we'll have to ask him directly his thoughts on that sale.
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On February 02 2013 09:25 canikizu wrote:Show nested quote +On February 02 2013 09:04 Marti wrote:On February 02 2013 08:32 T.O.P. wrote:On February 02 2013 08:30 ProV1 wrote:
IGN was previously sold for 650 million? Bought by News Corp for 650 million in 2005. I don't get it : news corp bought ign for 650 mill and they're selling it for 100 ? What happened ? Did ign loose that much value in those 8 years ? Or do they just want to get rid of it real quick ? They bought IGN Entertainment, which is the bundle of many sites, such as IGN, Gamespy, Askmen,.... for 650mil.
(But NewsCorp do have a history of massively overpaying for online stuff. Also is IGN really worth even $100m...?)
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I hope the new buyer whether it is Ziff Davis or someone else, still keeps IPL where it is.
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Ziff had some pretty major publications back in the day. They were recently bought by someone. They were quite instrumental in a few tech sites as well so it will be interesting to see how this goes
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On February 02 2013 08:37 MCXD wrote:
I'm not a business expert or anything but I would assume that this buy out would have absolutely no short term effects on IPL and such, but it may have long term effects down the track?
Which is to say that if anything bad were to come of this it would be a few months down the track, and with plenty of opportunity for intervention, so to speak.
However it it's also possible that it works out for the better, should their buyer happen to want to grow the site and its (currentl) projects.
I'm not a business expert either but I wouldn't be so sure about that. If a potential buyer has a different approach to what IGN is currently doing it could mean that there will be a big overhaul which could affect IPL quite a bit.
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This could be really bad for IPL, but thanks to certain games it isn't bleeding money as much as it used to.
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Wouldn't be surprised if IPL6 is the last ign event.
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EPT
