Monday, September 11, 2006

News Corp. and VeriSign Create Mobile Entertainment Company

News Corporation and VeriSign have formed a joint venture company to provide mobile entertainment. News Corp. will pay approximately $188 million for a controlling interest in VeriSign's wholly-owned Jamba subsidiary and will combine it with Fox Mobile Entertainment assets.

The new company will integrate a technologically advanced platform with mobile content production and delivery capabilities and will serve 30 territories with a potential reach of more than a billion mobile subscribers. The new company intends to retain the Jamster brand in the U.S. and the Jamba brand worldwide.

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