Fandom brought together a number of entertainment and gaming content entities, including TV Guide and Metacritic, in a deal with digital marketing firm Red Ventures for approximately $50 million.
In the deal, San Francisco-based Fandom acquired GameSpot, Metacritic, TV Guide, GameFAQs, Giant Bomb, Cord Cutters News, and Comic Vine. The sites collectively attract 46 million monthly active users, according to Fandom.
The financial terms of the contract are not disclosed; A source familiar with the deal rates it at "eight figures", with Fandom paying around $50 million in cash for the property. Red Ventures acquired TV Guide, Metacritic, GameSpot and Giant Bomb in 2020 as part of a $500 million deal to buy CNET Media Group from Paramount Global.
Founded in 2004, Fandom currently hosts more than 250,000 user-selected wikis on pop culture, gaming, television, and film, with approximately 300 million monthly active users. Fandom was founded by Wikipedia co-founder Jimmy Wales and entrepreneur Angela Beasley Starling. In 2018, Fandom was sold to a company backed by venture capital firm TPG, led by John Miller.
The latest deal continues Fandom's expansion beyond its wiki roots. In 2018, Fandom acquired ScreenJunkies, producer of the popular television series Honest Trailer, from Defy Media, a now-defunct digital media company. In 2019, the company acquired Curse Media, which combines a game wiki with integrated digital gaming tools. In 2021, Fandom acquired Fanatic, a video game retailer.
Fandom Productions, Fandom's content arm, will host GameSpot, TV Guide, and Metacritic, as well as the Honest Trailers team and the weekly video news show "The Loop."
"We are excited to add this powerful and well-known brand to the Fandom platform, which will expand our business opportunities and provide engaging content for our partners, advertisers and fans," said Fandom CEO Perkins Miller. "The information, ratings and trusted content they provide will make us a one-stop shop for fans for their entertainment and gaming."
In addition to CNET, Red Ventures owns Bankrate, Lonely Planet, Points Guy, and BestColleges. LionTree is the exclusive financial advisor to Red Ventures in Fandom deals.
Christina Miller, Chief Strategy Officer of Red Ventures, said: “With Fandom's leadership, we are confident that these brands and their teams will be well positioned to further expand and connect gaming and entertainment audiences around the world as Red Ventures continues to focus. ushering in the next phase of growth and evolution of our strong and stable group of decision makers.”
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