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August 02, 2007
Disney Co. Acquires Club Penguin for $350M
The Walt Disney Co. has bought the popular online kids hangout Club Penguin for $350 million, adding to its portfolio a site that in less than two years has been become a rage among preteens. Club Penguin offers a mix of games and chatting tools targeting kids ages 6-14. It nearly tripled in usage in the United States over the past year, according to comScore Media Metrix, and executives hope to expand to additional markets abroad and gain even more customers through promotions on other Disney-branded sites.