|Liberty Media is indirectly acquiring a 51% stake in Toronto-based online game developer Fun Technologies in a deal 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 be the primary shareholder. Liberty will pay $50 million in cash to Fun Technologies and another $144 million in order to purchase shares of the new company.
Fun Technologies' clientele boasts companies such as AOL and MSN and also runs an interactive television game-show service for GSN, a U.S. cable-TV channel co-owned by Sony and Liberty Media.