Reports have been released that video game news and media network, IGN, will go up on the auction block in the very near future. News Corp has been searching for a buyer to take IGN and the associated UGO and 1up gaming networks off their hands over the past year, to no avail. Now, News Corp is working with investment bank Allen & Co. on auctioning IGN and its video game-related partner networks to the highest bidder.
News Corp—the company behind the Fox media empire—purchased IGN for $650 million in 2005. That was the same year News Corp bought MySpace, which they unloaded for a fraction of the purchase price last year.
According to the post, the Wall Street Journal (which also happens to be owned by News Corp) estimates that IGN could sell for $100 million (if it goes to auction). IGN has yet to make a public comment on the news of their possible sale. Best of luck to the guys, and we hope that no one loses their job or gets cut out by the end of this.