VeriSign sells minority share of mobile entertainment JV for $200 million

Oct 08, 2008 (Datamonitor via COMTEX) -- NWS.A | Quote | Chart | News | PowerRating -- VeriSign, a provider of internet infrastructure services, has announced the sale of its minority share of the mobile entertainment joint venture to News Corporation, a global media company, 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.

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."

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