Ziff Davis parent company J2 Global confirms acquisition of IGN Entertainment for undisclosed sum.

The rumors were right. IGN Entertainment has been sold. Ziff Davis parent company J2 Global today confirmed it had acquired the gaming unit (and it network of sites) from News Corp.

Terms of the deal were not specified, though a prior report suggested J2 Global scored a deal on IGN, paying "considerably" less than the $650 million News Corp. purchased the company for in 2005.

News Corp. was reportedly hoping to sell the gaming unit for $100 million.

IGN has been up for auction for the past six months, with past bidders reportedly including Break Media, SAY Media, and unnamed private equity firms.

IGN president Roy Bahat left the company in August.

Read and Post Comments | Get the full article at GameSpot