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Liberty Media Buys Online Casino Developer
US-based Liberty Media Corporation has announced the acquisition of the remaining outstanding shares of Canadian online skill games developer Fun Technologies in a deal valued at a reported $94 million.
Toronto’s Fun Technologies has developed online games played on sites as diverse as AOL, Disney, Virgin Games, MSN, eBay, and NASCAR.com as well as through wireless applications and interactive television along with stand-alone kiosks.
Liberty Media is a Colorado-based media conglomerate founded by former engineer John Malone that holds a majority interest in DirecTV along with the Atlanta Braves baseball team. It purchased a controlling 53 percent share of Fun Technologies in November of 2005 for a rumoured $195 million, laying the foundations for total acquisition of the company.
It is not yet clear how the purchase will affect the position of former mergers and acquisitions lawyer Lorne Abony, Fun’s Co-Founder, President and Chief Executive Officer, or whether the former President of Petopia.com, an online pet food and supply destination, will be staying with the Ontario company.
source: OnlineCasinoNews |
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