It had been speculated for a bit now, but today things were made official about IGN and Ziff Davis Media according to a report from Bloomberg. IGN, which had previously been under News Corp., was sold off. While News Corp. was not interested in keeping IGN and all its content any longer, Ziff Davis was ready to grab the suite of sites. The transaction was somewhere under $100 million, although an exact price was not named.
IGN Entertainment is comprised of more than just the IGN gaming site. Ziff Davis' purchase also includes 1UP, AskMen, GameSpy, and UGO. Now, Ziff Davis itself is a subsidiary of j2 Global who had previously been in a similar situation to IGN. Previously, they had ownership of 1UP, EGM, and UGO but were unable to stay afloat and filed for bankruptcy. That's when j2 Global swept in and their assets were sold off to News Corp.
It's a bit of a muddled history, but basically, Ziff Davis is now getting back many of the properties they had once owned. With that said, we should not expect to see any of IGN's sites removed, but there may be some tweaks. Or, things may operate exactly the same and users will be completely unaware that any of this even went down. At the very least, let's hope that possible restructuring doesn't cause people to lose their jobs.