News Corp. Takes Full Control of Mobile JV

NEW YORK/MOUNTAIN VIEW,
October 8: News Corporation has spent $200 million to take full control of the
mobile entertainment subsidiary Jamba, acquiring VeriSign’s 49-percent stake in
the venture.

Last year, News Corp.
acquired a controlling interest in Jamba and merged the venture with its own
Fox Mobile Entertainment unit. Jamba, which operates under the brand Jamster in
the U.S., provides wallpapers, ringtones, screensavers, videos and games to
mobile-phone users.

“This sale is an important
step in our effort to focus on our core businesses in Internet infrastructure,”
said Jim Bidzos, the executive chairman of the board of directors, president
and interim CEO of VeriSign. “News Corp. has been a good business partner and
we wish them well as they continue to operate an exciting mobile entertainment
business.”


—By Mansha Daswani