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VRSN » Topics » VeriSign Sells Minority Share of Mobile Entertainment Joint Venture to News Corporation

This excerpt taken from the VRSN 8-K filed Oct 7, 2008.

VeriSign Sells Minority Share of Mobile Entertainment Joint Venture to News Corporation

NEW YORK, NY AND MOUNTAIN VIEW, CA – October 7, 2008 – News Corporation (NYSE: NWS, NWS.A), and VeriSign, Inc. (Nasdaq: VRSN) today announced the sale of VeriSign’s minority share of the mobile entertainment joint venture to News Corporation for approximately $200 million.

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.

“This sale is an important step in our effort to focus on our core businesses in Internet infrastructure,” said Jim Bidzos, executive chairman of the board of directors, president and chief executive officer on an interim basis of VeriSign. “News Corp. has been a good business partner and we wish them well as they continue to operate an exciting mobile entertainment business.”

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