Wednesday, September 14, 2005
Convergence: News Corp. Buys Online Game Business
News Corp. Buys Online Game Business
The Washington Post/AP reports that Rupert Murdoch is expanding his empire. The News Corp. online division, Fox Interactive Media recently acquired MySpace, moving Fox into the world of social networking. The acquisition of IGN, an online gaming portal, is the latest move in Murdoch's invasion of cyberspace.
Fox and the other media conglomerates are all seeking to coopt the new media by acquiring key dot.com and through them the eyeballs and advertising dollars that their traditional media have not been able to retain:
The Washington Post/AP reports that Rupert Murdoch is expanding his empire. The News Corp. online division, Fox Interactive Media recently acquired MySpace, moving Fox into the world of social networking. The acquisition of IGN, an online gaming portal, is the latest move in Murdoch's invasion of cyberspace.
Murdoch told investors in a conference call last month that he intends to make a strong push in building up his company's Internet presence, saying online businesses would be a "major part" of the future growth of his media conglomerate, which includes the Fox broadcast network, the Twentieth Century Fox movie studios and DirecTV.
Fox and the other media conglomerates are all seeking to coopt the new media by acquiring key dot.com and through them the eyeballs and advertising dollars that their traditional media have not been able to retain:
"With the addition of IGN, News Corp. said in a statement that its U.S. Web traffic will increase to nearly 70 million unique monthly users."
