IGN up for auction

MCV Staff 17th October 2012 Business News

IGN is being put up for auction – with an asking price of $100m – after its parent News Corp have failed to find a buyer.

The firm has – according to The Wall Street Journal – hired investment bank Allen & Co to auction off the business.

IGN is the world’s biggest games media outlet, and also owns AskMen, GameSpy and GameStats. It also incorporates rival games network UGO. It used to own Rotten Tomatoes and Direct2Drive, although both have since been sold.

According to the report, the potential sale of the business has been slowed due to management departures including the firm’s president, Roy Bahat.

News Corp acquired IGN for $650m in 2005.

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