Fandom Announces Purchases Of GameSpot, Metacritic, TV Guide, And GameFAQs
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Fandom, a portal known for its various wikis about different subjects, has announced the purchase of several major important brands connected to the entertainment and gaming industry. Companies like Gamespot, Metacritic, and TV Guide are among those involved in the transaction.
Although the company’s official statement says that the financial details haven’t been disclosed, a Variety article argues that the deal is around $50 million. This article also mentions that Red Ventures bought the three companies mentioned previously for around $500 million from Paramount back in 2020. Clearly, the overall value of these companies has decreased considerably since then, making it possible for Fandom to buy them and several others in just one package deal. Fandom’s official statement highlights the combined amount of traffic that its portal and Red Ventures’ will reach together. By acquiring these companies, Fandom argues that they will reach around 46 million monthly active users (MAUs).
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Perkins Miller, CEO of Fandom, has commented on the statement, saying: “We’re thrilled to add these powerful, authoritative brands into the Fandom platform, which will expand our business capabilities and provide immersive content for our partners, advertisers, and fans. The trusted insights, ratings, and content they provide will make us a one-stop shop for fans across their entertainment and gaming journey.”
Even though Red Ventures will be merged with Fandom, Christina Miller, CSO of Red Ventures, argued that the company will have some independence from the new owner: “With Fandom at the helm, we are confident these brands and their teams will be well-equipped to continue empowering and connecting gaming and entertainment audiences around the globe, while Red Ventures continues to focus on unlocking the next phase of growth and evolution of its strong stable of decision-making brands.”
With this merge, the entertainment and gaming industry witnesses another giant being born. Fandom already had a solid position within the public, and after acquiring several other companies connected to that sector, its position will likely only become stronger.
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