Media giant News Corp has sold mobile entertainment unit Fox Mobile Group (FMG) to the Jesta Group for an undisclosed sum.
The Jesta Group invests in sectors including real estate, hospitality and technology. FMG’s brands include mobile video service…
Media giant News Corp has sold mobile entertainment unit Fox Mobile Group (FMG) to the Jesta Group for an undisclosed sum.
The Jesta Group invests in sectors including real estate, hospitality and technology. FMG’s brands include mobile video service Bitbop, which was launched in the US earlier in 2010.
The president of the Jesta Group, Jason Aintabi, said: “We believe that mobile entertainment is an important emerging market and we are excited about this acquisition and the opportunities for growth it presents.”
The Financial Times reported in March that News Corp was exploring the possibility of offloading Jamster, one of FMG’s brands.
News Corp has also divested several other parts of its digital business over the last couple of years, including Rotten Tomatoes, which provides film reviews and trailers, and Photobucket, a photo and video sharing site.
