May 26th, 2010 @ BAFTA, London
ME presents the Monetising Mobile conference - putting the focus on how to make actual money from the apps revolution.
New Business Sales EMEA
Competitive Package
UK - London
Media giant snaps up the 49 per cent of mobile content provider it didn't already own from VeriSign
News Corporation has bought VeriSign's minority stake in mobile content retailer Jamba for $200 million.
The joint venture was originally created when News Corporation acquired a controlling interest in VeriSign’s wholly-owned Jamba subsidiary in 2007 for $187 million and combined it with the Fox Mobile Entertainment unit.
Verisign, which bought all of Jamba for $273 million in 2004, says it decided to sell its stake in order to focus on its core infrastructure business.
The history of News Corp's involvement in Jamba has certainly been a turbulent one, with the company's CEO, chief sales officer and COO all stepping down within the last six months.
Berlin and LA-based Jamba is currently headed up by CEO Mauro Montanaro and COO Kaj Hagros.
Advertisement
In May the company confirmed it would spend $100 million advertising its products and services this year.
doesn't look like newscorp is very happy about this buyin. take a look at newscorp's official press release:
http://www.newscorp.com/news/news_394.html" onclick="window.open ( this.href ); return false;" class="comment_url" >http://www.newscor....html
I would prefer to buy The Bradford and Bingley or Lehman Brothers - even in their current state!
It is one of the strangest press releases I have seen in a long while. There is no comment from Newscorp themselves - almost like they are embarrased about the whole business. I interpret Jim Bidzos's comment as "Thank goodness we have got rid of this!"
