News Corp. and VeriSign announced a joint venture to form the worlds largest provider of mobile entertainment. News Corp. will pay approximately $188 million for a controlling interest in VeriSigns wholly-owned Jamba subsidiary and will combine it with Fox Mobile Ent. assets.
The new company will serve 30 territories with a potential reach of more than a billion mobile subscribers. The new firm intends to retain the Jamster brand in the U.S. and the Jamba brand worldwide.