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Disney will pay up to $700 million for Club Penguin
Disney is buying its way into social networking. The company today picked up kid-focused game and networking site Club Penguin for $350 million in cash. Disney will pay up to $350 million more if the company hits a series of performance goals by 2009. Club Penguin is described as a "virtual world," where kids can interact with one another and play games. The site was founded in 2005 and has 700 ...
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