News Corp. Pays $188 Million for Control of Mobile Firm Jamba

Authored by Mark Hefflinger on September 12, 2006 - 6:46pm.

Los Angeles - Media conglomerate News Corporation announced on Tuesday that it will pay $188 million for a controlling interest in VeriSign's mobile entertainment unit, Jamba, and combine it with Fox Mobile Entertainment. Lucy Hood, formerly president of Fox Mobile Entertainment, will become CEO of the joint venture, which will retain its Jamster brand in the U.S. and the Jamba brand worldwide. Founded in 2000, Jamba delivers mobile entertainment content including ringtones, music and video. The company will now power the MySpace Mobile store, and also distribute a mobile content subscription package for Fox's "The Simpsons," called the "Yellow Plan." "This is an important step in News Corp.'s strategy of becoming the world's leading digital media company," said News Corp. president and COO Peter Chernin. "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."
http://biz.yahoo.com/bw/060912/20060912005519.html?.v=1
http://www.verisign.com
http://www.jamster.com