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 NEW YORK (AP) - The Walt Disney Co. said Wednesday it 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.
"We have been actively searching for an organization that not only shares our values and concerns for children, but also has the ability and desire to help us bring Club Penguin to more children throughout the world," said Lane Merrifield, a Club Penguin co-founder. "We've found that partner in Disney."
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