Virtual communities geared toward kids are allegedly drawing interest by major media companies, reports GigaOM.

According to paidContent, Sony is in advanced talks to buy Canada-based Club Penguin for $500 million. News Corp. is also rumored to have offered $200 million for the flash virtual world but was turned down.

Club Penguin co-founder Lane Merrifield says both reports are "not correct," however.
Still, Club Penguin is not the only virtual world drawing corporate eyes. Disney is rumored to be interested in Webkinz.

Kid-focused virtual worlds are exploding in popularity due to their simplicity and focus. In contrast, Second Life runs on software that must be downloaded and requires tutorials for learning basic aspects of living within the community. Worlds like Club Penguin run on flash within a browser.

Basic participation in such worlds is free; revenue is made through subscriptions and sales of cyber goods. In Webkinz' case, kids must buy a stuffed toy at a brick and mortar store in order to participate.

Furthermore, the kid-focused worlds are highly regulated to curb bad language and behavior. They're also a hit with parents, as they often include learning opportunities.