GameSpot is a video gaming website that provides news, reviews, previews, downloads, and other information on video games. The site was launched on May 1, 1996, created by Pete Deemer, Vince Broady and Jon Epstein. It was purchased by ZDNet, a brand which was later purchased by CNET Networks.
Kadokawa Corporation has given Sony a 1.93% ownership stake in the company, a financial deal that the Japanese media conglomerate says will allow it to utilize Sony’s “global expansion power of animation and consumer games.”
“We believe that it is necessary to procure such funds in order not to miss potential investment opportunities and to solidify our ability to create IP based on our track record of creating rich and unique IP consisting of a diverse portfolio of books, movies, animations, games, and UGC platforms, both financially and financially,” it said in a statement as reported by VGC.
The deal will also see CyberAgent–owner of popular smartphone game developer CyGames–receive the same percentage of shares in the company, which in turn will allow Kadowkawa Corporation to create and develop new intellectual properties in addition to maximizing the IP that it already owns.