News Corp Buys IGN Entertainment
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Less than a month after its high-profile purchase of community site MySpace, News Corp said on Thursday that it would buy Internet company IGN Entertainment for $650 million. The network would become part of Fox's Interactive Media unit, and would push its U.S. web traffic to over 70 milllion users and 12 billion pageviews per month.
The deal is expected to close by the end of the year, and IGN CEO Mark Jung will remain in his position after the transition. IGN is most commonly known for its gaming Web sites GameSpy and GameStats.com among others, as well as movie review site Rotten Tomatoes.