Red Ventures has made a deal for Fandom to take over major assets such as Gamespot, TV Guide and Metacritic.
While Nexstar Media Group has solidified their acquisition of The CW to reframe television, Fandom has acquired many of Red Ventures’ entertainment and gaming assets in the latest $55 million deal. Fandom has been the largest fan platform to date, now adding more bigger assets to their repertoire— GameSpot, Metacritic, TV Guide, GameFAQs, Giant Bomb, Cord Cutters News and Comic Vine. The platform will now be ranked as the 14th ad supported site in the U.S.
The CEO of Fandom, Perkins Miller added, “We’re thrilled to add these powerful, authoritative brands into the Fandom platform, which will expand our business capabilities and provide immersive content for our partners, advertisers and fans. The trusted insights, ratings and content they provide will make us a one-stop shop for fans across their entertainment and gaming journey.”
Miller continued to explain how the combination of Fandom advertising capabilities would be a perfect amalgamation for the acquired platforms and their strategic mission to be the number one platform for everything fandom related. The company has been known for their proprietary data platform, FanDNA which collects data and insights from its 360 advertising partners. The deal will also bolster their revenue stream on Fanatical, their gaming commercial business.
Chief Strategy Officer at Red Ventures, Christina Miller also released a statement on the major deal, “Today’s announcement marks the beginning of a new chapter for Red Ventures and Fandom, and we couldn’t be more excited for what’s ahead. With Fandom at the helm, we are confident these brands and their teams will be well-equipped to continue empowering and connecting gaming and entertainment audiences around the globe, while Red Ventures continues to focus on unlocking the next phase of growth and evolution of its strong stable of decision-making brands.”
While it may seem that Red Ventures has lost some major platforms, they will still own and operate CNet and other brands like LonelyPlanet, ThePointsGuy and HealthGrades. Originally, ViacomCBS owned CNet, which included TV Guide, GameSpot and Metacritic—CBS had acquired TV Guide all the way back in 2013. Then, Red Ventures acquired those assets in 2020 for $500 million.
In August 2022, Fandom had extended its RPG business by selling tabletop game maker, Cortex to studio Dire Wolf Digital. You will most likely recognize Fandom’s 250,000 Wiki communities—like when you are trying to track the names of all the characters in Lord of the Rings: Rings of Power, or trying to trace the Targaryen bloodline in House of the Dragon.