News Corp acquires Jamba for $200m

by Tristan O'Carroll, Media Week 08-Oct-08, 10:50

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.