On Monday, online fax service-turned -"cloud services" provider j2 Global (NASDAQ:JCOM) took another step toward reinventing itself when it announced the purchase of IGN Entertainment from News Corporation (NASDAQ:FOX) (NASDAQ:FOXA).
J2's Ziff Davis subsidiary purchased IGN, a provider of video game video game, entertainment and men's lifestyle content, for an undisclosed sum. In doing so, it acquired a varied portfolio of properties targeting men aged 18 to 34, ranging from PCMAG.com to Geek.com to Toolbox.com and more. In a press release on the acquisition, j2 noted that IGN's properties boast more than 600 advertisers and 53 million global monthly unique visitors and more than double the size of j2's digital media business.
Specific financial terms were not disclosed, but j2 did predict that the purchase would be accretive to 2013 earnings on a pro forma basis.