Business

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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Left Behind Games Executive Punished For Illegal Stock Trading

January 30, 2015 - GamePolitics Staff

A Hawaiian court has sided with the Securities and Exchange Commission (SEC) against a former executive from religious-themed video games publisher Left Behind Games, according to an Accounting Today report (as reported by Blue's News) detailing the particulars of the case.

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Robotoki Closing Its Doors

January 21, 2015 - GamePolitics Staff

Robert Bowling's studio Robotoki has closed. Bowling is the former Call of Duty Creative Strategist - he left Call of Duty developer Infinity Ward in 20102 to start his own company, but Robotoki has been having trouble for quite some time.

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Tencent Sells Three Percent Of Its Stake In Kingsoft

January 19, 2015 - GamePolitics Staff

Chinese electronics powerhouse Xiaomi has acquired an estimated three percent of China-based software and technology firm Kingsoft's stock for roughly $68 million, reports GamesIndustry International. The company purchased 35,298,057 ordinary shares - around 2.98 percent of the company - from Tencent, which will hold on to its 9.6 percent share in Kingsoft after the sale is finalized at the end of the month.

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Verizon Investors Want Answers On Net Neutrality

January 14, 2015 - GamePolitics Staff

A group of Verizon investors are publicly criticizing the mobile and broadband provider for its position on net neutrality, according to this Ars Technica report. They say that the company's position on the issue could ultimately harm its reputation and future commercial success.

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Square Enix Closes Mobile Studio in Indonesia

January 14, 2015 - GamePolitics Staff

Square Enix has shut down the mobile studio Smileworks in Indonesia - a mere 18 months after it opened its doors. The company confirmed in a statement to GII that all 14 of the people the small studio employed are now out of work as well. Square Enix opened the Surabaya, Java-based Smileworks studio 18 months ago in hopes of developing mobile game content for Indonesia. Apparently the studio did not live up to Square Enix's expectations.

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Kabam Acquires TapZen and Magic Pixel

January 13, 2015 - GamePolitics Staff

Mobile game publisher Kabam has acquired Los Angeles-based studios Magic Pixel Games and TapZen, the company announced today. TapZen and Magic Pixel are best known for their collaboration on the iOS game This Means War. Magic Pixel's credits include iOS titles Outcast Odyssey and Stick to It, and the PS 3 game Carnival Island. TapZen founder and former Zynga chief creative officer Mike Verdu has also joined the company.

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Dish Offers Cord Cutters 'Sling TV'

January 5, 2015 - GamePolitics Staff

Dish Networks is trying its hand at cutting itself loose from satellite and taking a straight run at customers with a new service designed for the Internet called Sling TV. For $20 a month consumers with Internet access can get 12 premium cable channels including ESPN, ESPN2, TNT, TBS, Food Network, HGTV, Travel Channel, Adult Swim, Cartoon Network, Disney Channel, ABC Family, and CNN. Obviously the new service is aimed at cord cutters who don't necessarily have a cable package but do have broadband Internet access.

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Majesco Raises $6 Million in Investments

December 18, 2014 - GamePolitics Staff

Troubled New Jersey-based publisher Majesco has managed to drum up a $6 million dollar investment as part of a deal that required the resignation of two high-ranking Majesco executives from the company's Board of Directors: chairman Allan Grafman and Majesco CEO Jesse Sutton.

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'Bandai Namco Games' Renamed To 'Bandai Namco Entertainment'

December 17, 2014 - GamePolitics Staff

Parent company Bandai Namco Holdings has changed the name of Bandai Namco Games again - even if the change is ever so slight compared to the last time the company rebranded itself. The company's board of directors voted and approved a name change from Bandai Namco Games to Bandai Namco Entertainment. The change will take place officially on April 1, 2015, with 20 subsidiaries rebranded from under the new moniker.

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North American Operations Lower Perfect World Entertainment Profits

November 26, 2014 - GamePolitics Staff

China-based Perfect World Entertainment reported a decline in profits for the third quarter, citing poorly performing North American properties. During the three-month period ended September 30, 2014, Perfect World earned ¥974 billion ($158.7 million) in revenue, up by around 5 percent compared to the same period a year ago. The five percent growth was attributed to the ongoing success of DOTA2 in China, which the company operates for Valve and the successful launch of mobile games CrossGate Mobile and Forsaken World.

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Activision Blizzard Settles With Shareholders Over Vivendi Stock Repurchase Plan

November 20, 2014 - GamePolitics Staff

Activision Blizzard has settled its lawsuit filed by shareholders after the company bought back a controlling interest in the former majority stakeholder Vivendi in 2013.

In a press release announcing the settlement, which still requires the approval of the Delaware court where the class action lawsuit was filed, the board of directors said the following:

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Report: Majesco in Financial Trouble

November 17, 2014 - GamePolitics Staff

According to this Gamasutra report, Majesco and its indie publishing label Midnight City are in serious financial trouble. According to sources "inside and outside the company" and several SEC filings by the company in the last week, Majesco is having financial trouble and has laid off some of its staff.

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Report: Warner Bros. Prepares for Company-Wide Layoffs

November 5, 2014 - GamePolitics Staff

According to a Game Informer report, Warner Bros. is making company-wide layoffs - and those layoffs will begin this week. A memo obtained by GI attributed to Warner Bros. CEO Kevin Tsujihara sent to employees reveals that layoffs are going to happen until the first quarter of 2015 in all divisions of the company.

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Activision Blizzard Reports Record Third-Quarter Results

November 4, 2014 - GamePolitics Staff

Activision Blizzard reported record third-quarter earnings, with year-over-year increases in revenues and income based on sales of its hit franchise Destiny and continued growth with World of Warcraft and Hearthstone. On a GAAP basis, the company reported sales of $753 million, way up from the $691 million from the same periods a year ago. On a non-GAAP basis, the company reported net revenues of $1.17 billion, way up from $657 million in the same period a year ago.

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EMA Announces 2015 Los Angeles Entertainment Summit

November 4, 2014 - GamePolitics Staff

The Entertainment Merchants Association (EMA) announced that the fourth annual Los Angeles Entertainment Summit (LAES) will be held July 6-8, 2015 at the Hyatt Regency Century City.

 
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Matthew Wilsonhttps://twitter.com/NintendoAmerica/status/581579256704081920 for those who did not see it zelda wont be at e3 ether.03/28/2015 - 2:22pm
ZippyDSMleeGot my keyboard working now now trying to sort and customize my stuff back to where I had it.03/28/2015 - 2:03pm
InfophileSony's customer service has always been crap, but up till now it's been manageable crap. A few cases of people having to pay for being hacked at worst, the Other OS removal... This one is going to be much worse for them.03/28/2015 - 1:34pm
WymorenceWhen did Sony start doing the ransomware stuff...? other than the old BMG rootkit stuff that is.03/28/2015 - 12:45pm
ZippyDSMleeother keyboards work but my keyboard will not work on it works on all the laptops tho...03/27/2015 - 11:22pm
ZippyDSMleeComp crashed acouple days ago and ate my keybaord drivers worse yet it's mislabel the drivers or hardware ID or soemthing and can not install the right drivers even manually it gives errors... going to try another restore point....03/27/2015 - 11:18pm
PHX Corphttp://ps4daily.com/2015/03/ps4-update-bricks-gamers-console-sony-wants-150-to-fix-it/ New PS4 update bricks gamers’ console, Sony wants $150 to fix it03/27/2015 - 11:11pm
MaskedPixelantehttp://www.newsarama.com/23947-axel-alonso-says-x-men-will-have-new-world-post-secret-wars.html Marvel gives 20th Century Fox the finger, takes their ball and segregates the mutant population in their own universe. According to rumors at least.03/27/2015 - 10:21pm
Papa MidnightSure thing!03/27/2015 - 9:00pm
Andrew EisenPM - Thanks, I've updated the story.03/27/2015 - 8:59pm
Papa Midnighthttp://arstechnica.com/tech-policy/2015/03/13-year-old-minecraft-player-confesses-to-swatting-police-say/03/27/2015 - 8:38pm
Andrew EisenThat would mean either Nintendo's next home console will be out by next year or the next Zelda game is suffering a two year delay. Both extraordinarily unlikely.03/27/2015 - 8:34pm
Matthew Wilsonsome people are thinking we might have a Twilight Princess situation on our hands, what do you guys think?03/27/2015 - 8:01pm
MechaCrashMiyamoto once said "a delayed game is eventually good, a bad game is bad forever." While this can be taken to excess, it is good that Nintendo remembers it.03/27/2015 - 7:44pm
MaskedPixelanteYay for it not being a buggy mess like AC Unity. Boo that it got delayed til November 2016.03/27/2015 - 7:07pm
Andrew EisenAgreed. Considering we've seen nothing of the game (and those who did see it last E3, said it was super duper early) I would be quite surprised to see it this year.03/27/2015 - 5:28pm
Matthew WilsonI am sure star fox is 2016 too.03/27/2015 - 5:14pm
ZippyDSMleeThe primary reasons I would get a Nintendo system is Zelda and Metroid, Metroid prime collection was beyond words awesome even if 3 was the weakest one. I played TWP on the emulator I have Skyward Sword but like TWP I been putting it off…. LOL03/27/2015 - 5:14pm
Daniel LewisI actually thought star fox would be the game to be delayed,hopefully that isn't as well!03/27/2015 - 5:13pm
Daniel Lewiswoah post shared at the same time matthew,you just beat me!03/27/2015 - 5:11pm
 

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