IGN sale closing soon – Report

Sources say Ziff Davis parent company J2 Global on the brink of closing bargain deal to acquire gaming label from News Corp.


Sources close to ongoing discussions have told The Wall Street Journal’s AllThingsD that News Corp. is on the brink of closing a deal to sell IGN (and its network of sites) to Ziff Davis parent company J2 Global.

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Exact terms of the reported deal were not disclosed, though sources said J2 Global scored a deal on IGN.

J2 Global is reportedly picking up the gaming unit for “considerably lower” than the $650 million News Corp. paid for it in late 2005. A report from October said News Corp. was hoping to get around $100 million for IGN.

IGN has been up for auction for the past six months, with past bidders reportedly including Break Media, SAY Media, and unnamed private equity firms.

IGN president Roy Bahat left the company in August.

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