News Corp. In Talks To Acquire UGO From Hearst

News Corporation (NASDAQ:NWSA) is in talks to acquire from Hearst. News Corp. is planning to spin off and sell off MySpace. News Corp. and Hearst have been discussing the deal through the weekend and an official announcement could be coming soon. Roy Bahat, the head of, will most likely end up running after IGN is spun off. IGN is expected to make $10 million this year on revenues of $100 million. News Corp. acquired IGN for $650 million in 2005. [AllThingsD]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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