Wholly owned: Jamba mobile media company is now part of News Corp
News Corp acquires Jamba for $200m
Tristan O'Carroll, Media Week, Wednesday, 08 October 2008, 10:50am,
LONDON - News Corp has taken full control of mobile media company Jamba by buying internet outfit VeriSign's 49% stake for about $200m (£115m).
News Corp acquired a controlling 51% stake in Jamba from VeriSign for a reported $188m (£108m) in 2007, following which the two formed a joint venture with News Corp’s Fox Mobile Entertainment unit.
Jamba creates content such as wallpapers, ringtones and games for mobile phones.
It also produces short, made-for-mobile episodes of certain Fox television shows such as 24.
VeriSign has been trying to divest its slower-growing businesses to focus on its core internet security services for some time, and the Jamba sale marks the latest step in that process.
This article was first published on Media Week
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