September 6, 2005
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Rupert Murdoch's News Corporation said Thursday it would acquire Internet video game company IGN Entertainment for about $650 million as it expands into online entertainment and media platforms.
By Reuters
The acquisition comes on the heels of News Corporation's agreement to purchase Intermix, owner of the popular MySpace.com social networking Web site. That deal was announced in July.
News Corporation said the new deals, along with its existing sites, would increase its total Web traffic to 70 million unique monthly users.
The transaction is expected to close in the fourth quarter. In July, IGN filed for a U.S. initial public offering of as much as $200 million in common shares.
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