Image via Fandom
Fandom has just gone on an acquisition spree, purchasing TV Guide, Metacritic, GameSpot, GameFAQs, Giant Bomb, Cord Cutters News and Comic Vine in a nearly $55 million deal. Collectively, the websites attract 46 million monthly active users, according to Fandom.
The financial terms of the deal were not disclosed, but according to Variety, a source familiar has said it is “in the mid-eight figures” with Fandom paying roughly $50 million for the properties in cash. Back in 2020, Red Ventures had acquired TV Guide, Metacritic, GameSpot and Giant Bomb as a part of a $500 million deal to buy the CNET Media Group from Paramount Global.
Fandom was founded back in 2004 and now hosts over 250,000 user-curated wiki pages regarding pop culture, gaming, TV, film, and more. It’s reached over 300 million monthly active users before. Fandom was founded by Jimmy Wales, co-founder of Wikipedia, and Angela Beesley Starling.
Back in 2018, Fandom was sold to a company backed by venture-capital firm TPG, headed by Jon MIller.
Fandom acquired ScreenJunkies back in 2018, and this latest deal is just another expansion into the entertainment sector. Curse Media was acquired by Fandom back in 2019, and Fandom acquired Fanatical back in 2021.
Fandom Productions will be in charge of GameSpot, TV Guide and Metacritic, along with the Honest Trailers team and the weekly news program, “The Loop.”
Fandom CEO Perkins Miller said in a statement that “[Fandom is] thrilled to add these powerful, authoritative brands into the Fandom platform, which will expand our business capabilities and provide immersive content for our partners, advertisers and fans. The trusted insights, ratings and content they provide will make us a one-stop shop for fans across their entertainment and gaming journey.”
Red Ventures chief strategy officer Christina Miller commented on the deal with Fandom, saying that “with Fandom at the helm, we are confident these brands and their teams will be well equipped to continue empowering and connecting gaming and entertainment audiences around the globe, while Red Ventures continues to focus on unlocking the next phase of growth and evolution of its strong stable of decision-making brands.”
Red Ventures, in addition to CNET, owns Bankrate, Lonely Planet, the Points Guy, and BestColleges. LionTree served as the exclusive financial adviser to Red Ventures on the Fandom deal.
Christina Miller, Red Ventures’ chief strategy officer, commented, “With Fandom at the helm, we are confident these brands and their teams will be well equipped to continue empowering and connecting gaming and entertainment audiences around the globe, while Red Ventures continues to focus on unlocking the next phase of growth and evolution of its strong stable of decision-making brands.”
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