Disney has made its first acquisition in social networking buying Club Penguin, which operates an online virtual world for children, for a fee that could eventually rise to $700 million.The deal bolsters its presence in digital entertainment.

Unlike social networking sites for older audiences, such as MySpace and Facebook, Club Penguin has a subscription-based business model. It has more than 700,000 paid subscribers and 12 million “activated” users, primarily in the US and Canada.

Other posts by :

1. Starlink: 10m customers and counting
2. SES predicts end of ‘big’ Geo satellites
3. Amazon Leo gets approval for 4,504 extra satellites
4. SpaceX gets a portion of India
5. TerreStar wants to build LEO network
6. Musk: “No Starlink phone”
7. Russia accused of eavesdropping on satellites
8. FCC welcomes Musk’s 1m satellite plan
9. Telesat has problems with an LEO

Categories: Articles, Business, M&A