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Murdoch continues Net spending spree with IGN buy

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Sep 09, 2005

The IGN network includes numerous gaming sites such as Gamespy.com, along with men’s lifestyle site askmen.com and film site Rotten Tomatoes. All its sites are targeted at young men.

 

Along with the $650 in cash, News Corp. will also take on $50m of IGN's debt.

 

The buy forms part of the media groups renewed strategy to expand its online presence.  So far this year, the group has spent more than $1.5bn on buying up Internet firms.

 

Murdoch has also acquired community site Intermix, sports site Scout Media and is currently in talks to buy search engine Blinkx.

 

Murdoch said the buy had made News Corp "the fifth most trafficked presence on the web".

 

"By acquiring IGN and its compelling sites, we now have top entertainment sites to go along with FOXSports.com, as well as our myriad news sites, headlined by FoxNews.com,” Murdoch said in a statement.

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