News Corp. to Buy 51% of VeriSign’s Ringtone Business

6:15 am on September 13, 2006 | Category: Business, Cell Phones, Corporate, Wireless

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The world’s third largest media conglomerate, News Corp., has agreed to acquire a controlling interest in Jamba, a ringtone and mobile entertainment business founded by VeriSign Inc. in 2000.

Combined with News Corp.’s Fox Mobile Entertainment business, Jamba (known as Jamster in the U.S.) will offer services in over 30 markets around the world, potentially reaching as many as 1 billion wireless subscribers.

News Corp. hopes to complete the acquisition by the end of this year, subject to regulatory approval and the finalization of definitive closing agreements.

By integrating Jamba’s assets with its existing mobile entertainment division, Rupert Murdoch’s company plans to create a new mobile content store for MySpace users; as well as offer exclusive ringtones, wallpapers, and video clips from The Simpsons, a popular Fox television series.

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    Edited by Jeremy Maddock