Ziff Davis buys IGN from News Corp

Today, IGN Entertainment websites -- which includes IGN.com, Gamespy.com and Askmen.com -- was sold by News Corp. to j2 Global Inc.'s Ziff Davis. The amount it was sold for was undisclosed. This acquisition nearly doubles the revenues of j2's digital media business, as Ziff Davis' properties of PCMag.com, Geek.com, Toolbox.com, UGO.com, 1UP.com and the IGN properties it just acquired combines for 600 advertisers and 53 million global monthly unique visitors.

Hemi Zucker, CEO of j2 Global said, "this is a transformative deal for our digital media business. By combining two of the most storied organizations in tech, gaming and entertainment, we have created a very powerful company capable of producing and delivering content in all forms to an audience that marketers highly value." Vivek Shah, CEO of Ziff Davis added, "IGN and AskMen are tremendous best-in-class brands that we are proud to have as part of our digital media portfolio."

In other words, they're looking to make a sh*tload of money.

You can follow Senior Editor Lance Liebl on Twitter @Lance_GZ. He likes talking sports, video games, movies, and the stupidity of celebrities. Email at LLiebl@GameZone.com