The world of US video gaming media looks to be taking another turn on the financial money-go-round as IGN (and 1Up) parent company, News Corp, is rumoured to be selling IGN to Ziff Davis.
This would mean that Ziff (now owned by cloud computing services company J2 Global) is rebuying 1Up, which in another life, it sold to... UGO which in turn sold it to News Corp.
Bloomberg has it that: "The price will be less than the $100 million News Corp. sought for the business, said the people, who requested anonymity because a deal hasnít been announced.
Rupert Murdoch, chairman and chief executive officer of News Corp., is leaving some businesses as his New York-based media company prepares to split into separate publishing and entertainment entities. IGN was once part of an interactive division that included MySpace."
AllThingsD points out that, "The price the business cloud provider ó with online services such as eFax, Onebox and eVoice ó paid for the gaming unit is unclear, but News Corp. bought IGN for $650 million in cash in late 2005. This transaction is considerably lower, sources said."