August 5th, 2010 by Arjan Olsder Posted in Companies & M&A | 1 Comment »
News Corp has decided it will part ways with their FOX Mobile unit. FOX Mobile originated from a marriage between Jamster/Jamba and FOX Mobile, both owned by News Corp at that time.
As it turns out, News Corp has been writing off $217 million on its outdoor and mobile businesses. Though it is unclear how much was written off on FOX Mobile, it is probably the primary reason why the unit is on sale.
Ten years ago, three brothers in Germany founded Jamba, jumping head-first into the global fad of selling ringtones, which ultimately grew to be a billion-dollar industry. Since then, the well-known mobile content company has taken a number of twists and turns.
Read more here – http://www.themusicvoid.com/2010/08/how-two-former-ringtone-giants-are-faring-as-that-market-crumbles/