Liberty Media to acquire majority stake in gaming company Fun Technologies

MUMBAI: The North American TV and internet major Liberty Media, which is into various cable and Internet businesses, is taking 51 per cent stake in Toronto-based online game developer Fun Technologies. The deal is valued at $195 million.

As part of the deal, Fun Technologies will become a wholly owned subsidiary of a newly-formed company, of which Liberty Media will hold 51 per cent. Liberty will pay $50-million in cash to Fun Technologies and another $144-million to purchase shares of the new company.

Fun Technologies’s clientele boasts of companies such as AOL and MSN. The company also runs an interactive television game-show service for GSN, a U.S. cable-TV channel co-owned by Sony and Liberty Media.