Fox Creates Mobile Group After Buying Jamba Stake; Will Launch U.S. Brand
This story was written by Tricia Duryee.
News Corp (NYSE: NWS) is overhauling its mobile operations after paying VeriSign (NSDQ: VRSN) $200 million for its remaining 49 percent state in Jamba, the mobile content company. This marks the end to the company's whirlwind history, which succeeded with the rise of ringtones, only to struggle as it faced controversies over billing practices and waning ringtone sales. Going forward, the company known as Jamba will be gone, but the brand will continue under the newly formed Fox Mobile Group, which will be led by Jamba's CEO Mauro Montanaro. Under the new leadership and business structure, the group will enter its next phase, which includes significant investments by launching a new mobile brand in the U.S. and by opening up a new studio to create made-for-mobile content. To understand what's going on, we talked to Fox Mobile Group's new CEO Mauro Montanaro, Jamba's former CEO. Lots more on MocoNews, here.
By Tricia Duryee