Business

Mad Catz downplays financial problems

July 3, 2015 - James Fudge

Game peripheral company Mad Catz is downplaying a recent admission to investors and in financial documents that the future of the company is in question. At the end of last month Mad Catz warned investors and government filings that it did not meet the requirements of a milestone set by creditor Wells Fargo. The company was supposed to hit a certain number of sales for the month and failed to do so.

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MTG acquires controlling interest in ESL parent company

July 1, 2015 - GamePolitics Staff

eSports league ESL has reached an agreement with MTG, to acquire a majority stake in Turtle Entertainment GmbH, the holding company for ESL and its international subsidiaries. ESL, one of the world’s largest eSports companies, operates a variety of high profile competitive gaming events such as the Intel Extreme Masters and ESL One. Under the terms of the acquisition agreement, MTG will acquire a majority of the outstanding shares of Turtle Entertainment for €78 million (roughly $86.4 million USD).

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eSports company 'Unikrn' raises $7 million in investments

June 30, 2015 - GamePolitics Staff

eSports and gaming company Unikrn has raised an additional $7 million from an all-star group of investors led by Jonathan Teo and Justin Caldbeck of Binary Capital, who are known for early investing in companies such as Twitter, Snapchat, Instagram, Whisper, Taskrabbit and more.  Unikrn was co-founded by Rahul Sood, creator of gaming PC company VoodooPC. 

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Sony to sell off stock and convertible bonds to raise roughly $3.6 billion

June 30, 2015 - GamePolitics Staff

Sony's share took an eight percent dip in early morning trading after the company announced that it would raise capital by selling outstanding shares and convertible bonds. Sony said in its announcement this morning, found here (PDF), that it would use the money raised from the sale of stock and convertible bonds to finance the increased production of image sensors for smartphones and cameras.

Ultimately Sony hopes to raise 440 billion yen, or $3.6 billion USD, from the sale.

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Former Capcom exec joins Six Foot

June 26, 2015 - GamePolitics Staff

GamesIndustry.biz reports that former Capcom senior vice president Christian Svensson has found a new home at Six Foot as chief operating officer and head of its games division in Houston, Texas. Svensson will also manage Grey Box, which worked with Petroglyph, Axis Animation, and Weta Workshop on the RTS title Grey Goo.

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EEDAR: digital-only titles account for 66 percent of releases on consoles

June 10, 2015 - GamePolitics Staff

New data from research firm EEDAR concludes that around 66 percent of console releases are digital-only. According to that new data, the digital / retail only split has been reversed since 2008 to 2014. In 2008, it was mostly an even split, with retail representing 44 percent of console releases compared to 40 percent for digital-only and 16 percent for releases using both methods.

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Avalanche Studios finally appoints a CEO

June 9, 2015 - GamePolitics Staff

Avalanche Studio has never had a chief executive officer by its own accounting, since it was founded in 2003.  The duties of such a position were always shared by its founders - Christofer Sundberg and Linus Blomberg. But today that changes, according to an announcement made by company this morning. As the company moves towards its new goal of developing games and getting into self-publishing, it decided it was time someone officially steered the ship.

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Ready at Dawn hires former Blizzard exec as its new CEO

June 8, 2015 - GamePolitics Staff

Former Blizzard Entertainment executive Paul Sams has joined game developer Ready at Dawn as its new chief executive officer. Sams, who served for a very long time as Blizzard's COO, will lead the studios' new office in Austin Texas. That office will focus on business development and publishing. Ready At Dawn co-founder and now former CEO Ru Weerasuriya has moved into the position of president and chief creative officer.

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Charter promises no data caps for customers under new mega-cable company structure

May 27, 2015 - GamePolitics Staff

Charter Communications is getting out in front of any trouble it might have with the Federal Communications Commission on the subject of net neutrality after seeing the spectacular unraveling of the deal between Comcast and Time Warner Cable. Earlier this week Charter announced its plans to acquire Time Warner Cable for around $55 billion and a side deal to buy up Bright House for $10 billion.

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Charter seeks to buy Time Warner Cable in $55.1 billion deal

May 26, 2015 - GamePolitics Staff

Update: Charter Communications officially announced its intentions to buy Time Warner Cable and Bright House this morning. In its announcement Charter laid out how big a piece of the pie it will hold when the dust settles on the deal to merge with Time Warner Cable and acquire Bright House:

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Zynga reveals improved Q1 2015 results, announces 18 percent reduction in staff

May 7, 2015 - GamePolitics Staff

In the midst of celebrating the fact that it beat first quarter 2015 estimates, social game maker Zynga announced that it would lay off 18 percent of its workforce.

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Nintendo reports fiscal year profits

May 7, 2015 - GamePolitics Staff

Nintendo has announced its financial results for the fiscal year ending March 31, 2015, revealing that - for the first time in four years - it has positive annual profits. Nintendo reported a 41.8 billion yen ($350 million) profit for the fiscal year ending March 31.

The company also said that global sales of Nintendo 3DS systems (2DS, 3DS, etc.) reached 8.73 million units during the fiscal year. Nintendo's 3DS game Pokémon Alpha Sapphire sold 9.94 million units during the period, while Super Smash Bros. for Nintendo 3DS reached 6.8 million units sold.

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Capcom Europe appoints new CEO

April 7, 2015 - GamePolitics Staff

Well that was short lived. According to GamesIndustry International, Capcom Europe has a new CEO. In December of last year the company announced the appointment of Hiroshi Tobisawa. A little over four months later and Capcom is replacing him for some unknown reason(s) with ten-year Capcom veteran Katsuhiko Ichii.

According to Capcom Europe, Tobisawa "leaves the European office to return back to Capcom Japan and pursue other business opportunities."

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Nexon acquiring Boolean Games

April 2, 2015 - GamePolitics Staff

Nexon has acquired Boolean Games, GII reports. Boolean is best known for developing the Dark Avenger series of games. In total the series has enjoyed 30 million downloads worldwide since its launch in May, 2013. The first Dark Avengers game has earned around $1 million in revenue to-date. The sequel, Darkness Reborn, was launched in November of 2014 and has been downloaded 10 million times.

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GSN Games acquires rival Idle Gaming

March 30, 2015 - GamePolitics Staff

Social casino games and cash tournament company GSN Games has acquired social casino game studio rival Idle Gaming. Financial terms of the deal were not disclosed. GSN Games said in a press release announcing the deal today that the acquisition adds both "high-quality talent and mobile platform technologies that support GSN Games’ long-term strategic growth."

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Zynga shareholder lawsuit can proceed, federal court rules

March 27, 2015 - GamePolitics Staff

A U.S. District Court Judge in San Francisco has ruled that a lawsuit against social game maker Zynga concerning its December 2011 initial public offering can proceed, Reuters reports. U.S. District Judge Jeffrey White ruled that shareholders alleging that Zynga  defrauded them "before and after" its Dec. 2011 IPO could proceed with their lawsuit. An earlier version of the lawsuit was tossed out by the same judge 13 months ago.

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Marvelous Entertainment Cancels Comcept's 'Kaio: King of Pirates'

March 13, 2015 - GamePolitics Staff

Comcept's Kaio: King of Pirates is no longer in development and the game's publisher says that it will take a financial hit as a result. The game, which was being developed by Capcom veteran Keiji Inafune's studio, was announced way back in 2012.

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Majesco Hands Off Retail Publishing As Annual Shareholder Meeting Looms

March 4, 2015 - James Fudge

Majesco Entertainment announced that it is effectively handing off its retail publishing business to someone else. All of the publisher’s packaged products retail distribution business in North America will be handled by U&I Entertainment LLC going forward. Majesco said that it would continue to publish and distribute its own digital game products.

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Sony: 20.2 Million PS4 Systems Sold To-Date

March 4, 2015 - James Fudge

Sony announced from the bowels of the Game Developers Conference in San Francisco (where it revealed details on new features and a release window for its Project Morpheus VR headset for PS4 earlier in the week) that it has sold 20.2 million PlayStation 4 consoles to consumers worldwide. That figure tabulates sales all the way up to March 1, and is up from the 18.5 million PS4s it claims it sold back in January. The PlayStation 4 has been released in 123 countries and regions worldwide.

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Notch Makes It Into The 'Forbes Billionaires List'

March 3, 2015 - GamePolitics Staff

Markus "Notch" Persson, co-founder of Mojang and the creator of Minecraft, has managed to make the Forbes Billionaires List. Persson generated his current holdings when he sold off the company he co-founded and the Minecraft franchise to Microsoft in September of last year for around $2.5 billion. Persson owned 70 percent of Mojang, giving him a pretty hefty payday when the company was sold to Microsoft. Persson left the company shortly thereafter.

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Upcoming Open Gaming Alliance Report Predicts PC Gaming Sector Worth $35 Billion By 2018

March 2, 2015 - GamePolitics Staff

The Open Gaming Alliance (OGA) will release its seventh annual research report at the end of March in conjunction with market research firm DFC Intelligence. The new report, which focuses on the PC gaming sector, offers predictions on the sector from the end of 2014 up until 2018.

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Tencent Takes Minority Stake in 'Orcs Must Die!' Developer Robot Entertainment

February 27, 2015 - GamePolitics Staff

Tencent has taken a minority stake in Robot Entertainment, the company best known for developing the Orcs Must Die! games. This investment follows a majority stake investment in mobile developer Miniclip earlier in the month. Tencent leverages its investments in a number of companies to license big franchises for the lucrative Chinese games market where it is a major player.

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Yoyo Games and Playtech Issue Statement On The Future of GameMaker

February 20, 2015 - GamePolitics Staff

Yoyo Games and Playtech issued a joint statement today assuring current GameMaker developers that the future of the development tools is bright and full of sunshine. Earlier this week Playtech announced that it had purchased Yoyo games and its GameMaker technology for $16.4 million. One of the biggest concerns for users of the development software after the announcement was pricing, but "for now" the current pricing model will stay in place according to both companies.

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Nepro Japan Acquires Tri-Ace

February 20, 2015 - GamePolitics Staff

Star Ocean and Valkyrie Profile developer Tri-Ace has been acquired by Japanese mobile gaming company Nepro Japan. Financial terms of the deal were not disclosed. Fans of these and other Tri-Ace games are concerned that these franchises might be seriously hurt - particularly when it comes to future titles being proliferated on other platforms that aren't mobile in nature.

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Sega Networks Spends Big on Western Developers

February 19, 2015 - GamePolitics Staff

Sega's mobile arm Sega Networks announced today that it has acquired independent developer Demiurge Studios. Sega says that this purchase is part of series of investments in the "Western market." Sega Network also announced that it has taken a major stake in San Francisco start-up Ignited Artists and London-based Space Ape Games.

Sega did not reveal financial details on any of these deals.

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Analyst Calls For Zynga CEO Don Mattrick To Resign

February 13, 2015 - GamePolitics Staff

It's been a year and a half since former EA CEO Don Mattrick took the reins at social games giant Zynga. In that time the company has continued to struggle in its transition from the social gaming scene to the mobile gaming space. At least one analyst seems to have had enough of Mattrick's performance.

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Ubisoft Reports Solid Q3 Earnings

February 12, 2015 - GamePolitics Staff

Ubisoft reported its fiscal third quarter earnings today, recording sales of approximately $923.5 million, up 55.8 percent year-over-year. Clearly it was a brisk holiday sales season for the Paris-based publisher, despite some serious technical issues and bugs associated with several of its top franchises.

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Sega Plans Restructuring and Layoffs

February 12, 2015 - GamePolitics Staff

Sega's big gamble on console games and more spending on marketing did not pay off. The publisher announced its results the nine months between April and December, revealing that a 27 percent increase in game development costs and 53 percent increase in advertising did not help move product. During the nine month period, Sega said that it spent $210 million on games development and $73 million on advertising, and expects about 50 games released for the total fiscal year which ends in March.

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'Grand Theft Auto V' Reaches 45 Million Sales Milestone

February 4, 2015 - GamePolitics Staff

Last night Take-Two Interactive revealed that - to no one's surprise - that wholly owned studio Rockstar’s Grand Theft Auto V has now reached 45 million unit sales since its launch. Take-Two also revealed that around 10 million of those sales come from PlayStation 4 and Xbox One sales, with the rest coming from the last generation PS3 and Xbox 360. The PC version is currently in development and is set for a release in March after a delay in January.

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Sony Divest Itself of Sony Online Entertainment

February 2, 2015 - GamePolitics Staff

In a surprising an unexpected move, New York-based investment firm Columbus Nova announced that it has acquired MMO maker and operator Sony Online Entertainment LLC (SOE) for an undisclosed amount of money. Sony Online Entertainment is best known for creating EverQuest, PlanetSide 2, DC Universe Online, H1Z1, Landmark, and the upcoming EverQuest Next.

The company has been renamed Daybreak Game Company and - for the time being at least - John Smedley remains its president.

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Poll

Which group is more ethically challenged?:

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Matthew WilsonI am old school on this. I believe its a conflict of interest to have public sector unions. that being said, I do not have a positive look on unions in general.07/07/2015 - 3:59pm
TechnogeekWhat's best for the employee tends to be good for the employer; other way around, not so much. So long as that's the case, there's going to be a far stronger incentive for management to behave in such a way that invites retalitation than for the union to.07/07/2015 - 3:10pm
TechnogeekTeachers' unions? State legislatures. UAW? Just look at GM's middle management.07/07/2015 - 3:05pm
TechnogeekIn many ways it seems that the worse a union tends to behave, the worse that the company's management has behaved in the past.07/07/2015 - 3:02pm
james_fudgeCharity starts at home ;)07/07/2015 - 2:49pm
james_fudgeSo mandatory charity? That sounds shitty to me07/07/2015 - 2:49pm
E. Zachary KnightGoth, if Union dues are automatically withdrawn, then there is no such thing as a non-union employee.07/07/2015 - 2:38pm
Goth_Skunka mutually agreed upon charity instead.07/07/2015 - 2:33pm
Goth_Skunkyou enjoy the benefits of working in a union environment. If working in a union is against your religious beliefs or just something you wholeheartedly object to, dues will still be deducted from your pay, but you can instruct that they be directed towards07/07/2015 - 2:33pm
Goth_SkunkBasically, if you are employed in a business where employees are represented by a union for the purposes of collective bargaining, whether or not you are a union member, you will have union dues deducted from your pay, since regardless of membership,07/07/2015 - 2:32pm
Goth_SkunkIt's something that has existed in Canada since 1946. You can read more on it here: http://ow.ly/PiHWR07/07/2015 - 2:27pm
Goth_SkunkSee, we have something similar in Canada, called a "Rand Employee." This is an employee who benefits from the collective bargaining efforts of a union, despite not wanting to be a part of it for whatever reason.07/07/2015 - 2:22pm
Matthew Wilson@info depends on the sector. for example, have you looked at how powerful unions are in the public sector? I will make the argument they have too much power in that sector.07/07/2015 - 12:39pm
InfophileIt's easy to worry about unions having too much power and causing harm. The odd thing is, why do people seem to worry about that more than the fact that business-owners can have too much power and do harm, particularly at a time when unions have no power?07/07/2015 - 12:31pm
Matthew Wilsonthe thing is unions earned their bad reputation in the US. the way unions oparate the better at your job you are, the likely you want to be in a union.07/07/2015 - 11:33am
InfophilePut that way, "right to work" seems to have BLEEP-all to do with gay rights. Thing is, union-negotiated contracts used to be one of the key ways to prevent employers from firing at will. Without union protection, nothing stops at-will firing.07/07/2015 - 11:06am
Infophilehas an incentive to pay dues if they're represented either way, so the union is starved for funds and dies, unless things are bad enough that people will pay dues anyway.07/07/2015 - 11:02am
InfophileFor those who don't know, "right to work" laws mean that it can't be a condition of an employment contract that you pay union dues. That is, the right to work without having to pay dues. Catch is, unions have to represent non-members as well, so no one...07/07/2015 - 11:01am
MechaCrashUnexpected? Seriously?07/07/2015 - 10:55am
Mattsworknamejob they wanted without the unions getting involved. The problem is, it has some unexpected side effects, like the ones Info mentioned07/07/2015 - 8:49am
 

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