AOL acquires GameDaily video game site

DULLES, Va. (AFX) – Time Warner Inc.’s online division AOL said Wednesday it bought GameDaily, a video game publication, from privately held Gigex Inc. for an undisclosed amount.

Under the agreement, AOL acquires both the GameDaily consumer Web site and its industry newsletter. The company said GameDaily will become the flagship video game brand in the AOL Game network.

The deal will also integrate the editorial staff of AOL Video Games with GameDaily’s Web and newsletter team.

"Video game sites have become a valuable resource for advertisers wishing to reach the young male audience, and GameDaily is a brand that resonates with these highly sought-after consumers," said Ralph Rivera, vice president and general manager of AOL Games.

AOL said GameDaily is one of the top three most visited video gaming information Web sites.

Shares of Time Warner rose 5 cents to $16.13 in morning trading on the New York Stock Exchange.