News Corp today announced the acquisition of IGN for $650 million. IGN is a community and news site mostly focused on games and targeted at young male adults and teenagers. This is yet another example of traditional media firms acquiring new media assets. IGN is going to be rolled into Fox Interactive.
I expect to see traditional media continue their new media buying spree as they attempt to better position themselves for the rapid growth of online audiences and advertising - and the continuing decline in traditional media audiences and ad revenue.
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