Rupert Murdoch Buys the Crazy Frog

Verisign has sold a controlling stake in its mobile content subsidiary, Jamba to News Corporation (owner of the teen MySpace website) for around US$188 million. Jamba, creator of the awful Crazy Frog ringtone will be combined with Fox Mobile Entertainment assets. The new company intends to retain the Jamster brand in the U.S. and the Jamba brand worldwide.

Lucy Hood, formerly President of Fox Mobile Entertainment, will become CEO of the joint venture.

"This is an important step in News Corp.'s strategy of becoming the world's leading digital media company," said Peter Chernin, News Corp. President and Chief Operating Officer. "We're the most powerful media company on the web with Fox Interactive Media, our aggressive digital content deals have given consumers access to News Corp. programming on every conceivable platform and we have already demonstrated innovation in this emerging space with the Mobisode and Mobizzo.

"Wireless technology gives us an enormous opportunity to reach billions of mobile phone users with our content. With this new venture we're looking forward to inventing new and compelling ways to engage this exciting new audience."

Verisign paid US$273 million for Jamba back in May 2004. Based on the sale price of US$188 for 51%, the company is now valued at US4368 million."

Posted to the site on 13th September 2006