News Corp. Sells Fox Mobile Group To Investment Firm Jesta

Wednesday, 22 December 2010 18:58

News Corp. Sells Fox Mobile Group To Investment Firm Jesta

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It looks like News Corp. has unloaded its Fox Mobile Group division. According to a release, investment company Jesta Group has acquired Fox Mobile Group (FMG) from News Corporation. Terms of the deal were not disclosed in the release.

FMG operates a number of mobile services including

Jamba, Jamster, Mobizzo and iLove, as well as Bitbop, a recently launchedmobile video service and entertainment platform. FMG will become part of Jesta Mobile Holdings.

We’ve known that News Corp was looking to unload Fox Mobile Group, most recently laying off 15 percent of its staff in Germany. As News Corp shifted its digital strategy, FMG didn’t quite fit within the company (especially since the group wasn’t bringing any meaningful revenue to News Corp).

The same goes for News Corp’s Fox Audience Network, which was sold to The Rubicon Project a few weeks ago. News Corp also disposed of Rotten Tomatoes, which was sold to Flixster in January. Is MySpace next?

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Fox Mobile Group

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