Thursday, May 26, 2011

GameFly Buys Direct2Drive

Los Angeles-based GameFly, the online videogame rental service, said Wednesday that it has acquired Direct2Drive.com, the videogame distribution and download site, from IGN Entertainment. Financial terms of the sale were not disclosed. As part of the buy, IGN gains a minority equity stake in GameFly, with News Corporation also gaining an observer seat on GameFly's board. Jorge Espinel, EVP of Strategy and Corporate Development at New Corp., joins as observer on GameFly's board. Direct2Drive.com allows video game users to purchase and download games for the PC and Mac.

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