The joint venture was created when News Corporation acquired controlling interest in VeriSign’s wholly-owned Jamba subsidiary in 2007 and combined it with the Fox Mobile Entertainment unit. The venture combined Jamba and Fox Mobile Entertainment assets to form a leading global provider of mobile entertainment. The transaction will meet all required regulatory approvals and the satisfaction of all other customary conditions.
Jim Bidzos, executive chairman of the board of directors, president and CEO on an interim basis of VeriSign, said: This sale is an important step in our effort to focus on our core businesses in internet infrastructure. News Corporation has been a good business partner and we wish them well as they continue to operate an exciting mobile entertainment business.
New Corporation has operations in eight industry segments: filmed entertainment, television, cable network programming, direct broadcast satellite television, magazines and inserts, newspapers and information services book publishing.
