Business

GamesBeat 2014 Features Peter Molyneux, Geoff Keighley, and Other Headliners

August 15, 2014 - GamePolitics Staff

VentureBeat today announced its "big speakers" for its annual games industry focused GamesBeat event. GamesBeat 2014 takes place Sept. 15 and Sept. 16 (at the Parc 55 Wyndham Hotel) in San Francisco.

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Mastertronic Makes Deal With Creditors

August 12, 2014 - GamePolitics Staff

UK publisher Mastertronic has signed a debt repayment agreement with creditors to help it stay in business. In a statement issued yesterday to Develop, Mastertronic CEO Andy Payne said that the company had worked out a deal with creditors that will see it repay 50 percent of its debt over the next three years and four months.

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Zynga Has a Bad Second Quarter

August 8, 2014 - GamePolitics Staff

Social and mobile game maker Zynga posted a $63 million net loss for the second quarter of FY 2014. The company reported non-GAAP quarterly revenues of $153 million, with non-GAAP profits of $3 million - a bit better than the $6 million loss for the same period a year ago. Bookings, or virtual item sales, were $175 million, down 7 percent from the same period a year ago.

Zynga also reduced its full-year guidance on bookings to be between $695 million and $725 million, down from an earlier guidance between $770 million to $810 million.

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Netflix Generating More Revenue Than HBO

August 8, 2014 - GamePolitics Staff

In a status update on Facebook, Netflix CEO Red Hastings said that Netflix now generates more revenue than premium pay channel Home Box Office (HBO). Reed said in his post that the company managed to pull in $1.146 billion compared to HBO's $1.141 billion.

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Legendary Entertainment Acquires Felicia Day's 'Geek & Sundry' Channel

August 7, 2014 - GamePolitics Staff

Legendary Entertainment has acquired Felicia Day's Geek & Sundry YouTube channel and added it to its digital division. Legendary Entertainment is a film company whose credits include Godzilla and Pacific Rim, among other properties.

"I am thrilled to have Geek & Sundry partner with a company I admire and that aligns authentically with my audience's interests," Felicia Day tell GII.

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Take-Two Records Small Loss in Q1 2015

August 6, 2014 - GamePolitics Staff

Take-Two posted a net revenue of $125.4 million in the first quarter of its 2015 fiscal year, down 12 percent compared to the $142.7 million recorded for the same period a year ago. The company's net loss shrank by nearly 43 percent to $35.4 million, down from $61.9 million last year.

NBA 2K14, Grand Theft Auto V, Grand Theft Auto Online, and Borderlands 2 drove revenue for the quarter.

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Nintendo Sells Off SIRAS

August 5, 2014 - GamePolitics Staff

Atlanta-based company InComm has acquired point-of-sales services company SIRAS.com Inc. from Nintendo of America, the Atlanta Journal-Constitution reports.

InComm global provider of gift, debit and card technology. The company said it acquired SIRAS to help it expand "asset control and point-of-sale services to retailers."

SIRAS will become a wholly owned subsidiary of InComm. Financial terms of the deal were not disclosed.

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Despite Impressive 'Mario Kart 8' Sales, Nintendo Still Records a Loss

July 30, 2014 - GamePolitics Staff

While the last three months have shown marked improvement for Nintendo console and software sales, the maker of Wii U, 3DS, and all things Mario still found itself struggling. Nintendo reported that it raked in 74.7 billion yen ($731.5 million) for the three month period that ended on June 30, 2014, down by approximately 8.4 percent compared to the same period a year ago. The company also recorded a loss of 9.9 billion yen ($96.9 million), compared to profits of 8.6 billion yen ($84.2 million) in the same period a year ago.

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Lionsgate Invests Millions in Next Games

July 23, 2014 - GamePolitics Staff

Film company Lionsgate Entertainment has invested an undisclosed amount of capital in Finish developer Next Games. Next Games is a game studio based in Helsinki, Finland that was formed last year by former Rovio, Disney and Supercell developers. The studio raised $6 million in its first round of public funding, and is currently working on a free-to-play mobile game based on AMC's The Walking Dead show called No Man's Land and another undisclosed project.

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Koch Media Denies Reports That It Is 'For Sale'

July 7, 2014 - GamePolitics Staff

Koch Media, the publisher responsible for Deep Silver - who publishes Dead Island and owns Saints Row maker Volition - has denied reports in a German paper that the company is up for sale.

German business newspaper Handelsblatt reported that Koch Media has brought in investment bank UBS to the company to find a suitable buyer, with multiple sources claiming a sale was in the works.

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Majesco In Compliance with NASDAQ, Avoids Delisting

July 3, 2014 - GamePolitics Staff

Some good news for Majesco; the company, who had been threatened with being delisted from the NASDAQ stock exchange for its stock trading below $1, has managed to avoid any punitive action. The company's stock is now trading above the $1 requirement and is in compliance with NASDAQ rules. The company announced the good news this week.

Back in March of last year NASDAQ gave Majesco 180 calendar days to raise its stock price above $1 or face delisting. Majesco received an additional 180 day extension to Feb. 14, 2014 in August of last year.

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Nintendo Annual Shareholder Meeting Excerpt Highlights 'Out of Touch' Investor Mentality

July 3, 2014 - GamePolitics Staff

Companies would like to believe that the people who invest in them understand the business they are trying to make a return on and that they believe in it to some degree, but the sad truth is that for every shareholder who understands what they are putting their money into there might be one that doesn't have a clue or doesn't care beyond the financial return or loss.

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Airtight Confirms Closure

July 3, 2014 - GamePolitics Staff

Independent game development studio Airtight Games has confirmed via Twitter that it has officially gone out of business, but it did not provide any particular details on why the Redmond, Washington-based studio closed. Yesterday reports surfaced that the studios office were locked and a sign on the door indicated that the equipment inside the building was for sale.

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A Meaner, Leaner Atari is Ready for Business

June 27, 2014 - GamePolitics Staff

In an interview with Polygon, Atari explains how a combination of old and new IP, licensing, digital publishing, and a smaller operation will put the company back on the right track after surviving bankruptcy.

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Nintendo President Satoru Iwata Re-Elected

June 27, 2014 - GamePolitics Staff

During yesterday's annual shareholder meeting, Nintendo re-elected president Satoru Iwata to the board of directors. Iwata was not at the meeting - he's still recovering from a major surgery. The proposal to re-elect Iwata and nine other executives was approved without any opposition (PDF).

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Chinese Mobile Games Giant Embroiled in Bribery Scandal

June 26, 2014 - GamePolitics Staff

Gamasutra reports that one of the biggest game publishers in China, China Mobile Games and Entertainment Group has laid off several executives following allegations of bribery. The company laid off nine executives from their positions earlier this week, including President Shuling Ying.

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Oculus Buys Company That Designed Xbox 360 Controller

June 25, 2014 - GamePolitics Staff

Oculus has bought Carbon Design, the same company that designed the Xbox 360 controller for Microsoft. The Oculus Rift virtual reality headset makers said that it expects to complete the deal for the Seattle-based company by summer's end.

Carbon has been working with Oculus, who was bought by Facebook earlier this year for $2 billion, for nearly a year on multiple unannounced projects.

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Zynga CEO Earned Over $57 Million This Year

June 13, 2014 - GamePolitics Staff

Even though social and mobile game maker Zynga's stock has declined 21 percent in the last six month, that hasn't stopped its new CEO from collecting his heft salary this year. According to this CNBC report, Zynga CEO Don Mattrick earned a total of $57.8 million at Zynga this year.

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Three More Executives Exit Zynga

June 4, 2014 - GamePolitics Staff

Zynga has lost a new bunch of executives this month, according to GamesBeat. Words With Friends lead Travis Boatman, head of acquisitions Terence Fung, and former head of the company's Ville franchise Steve Chiang, have all left Zynga. Unlike previous departures, these latest ones seem to be part of CEO Don Mattrick's plan to tighten up Zynga at its top-level. The company said in April that CFO Mark Vranesh was also leaving.

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Business Organizations Urge RI Speaker to Repay 38 Studios Loan Debt

June 4, 2014 - GamePolitics Staff

House Speaker Nicholas Mattiello received a letter from Rhode Island business organizations urging the General Assembly to budget taxpayer money to repay the roughly $90 million owed to bond holders in the 38 Studios deal. The letter was signed by ten organizations, including a number of chambers of commerce and business groups.

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Index Corporation Chairman and President Arrested for Filing Doctoroed Earnings Reports

May 28, 2014 - GamePolitics Staff

According to a report in Nikkei, Index Corporation chairman Masami Ochiai and his wife, Index president Yoshimi Ogawa, have been arrested by authorities in Tokyo, Japan on allegations that they falsified earnings reports. In case you don't know, Index Corporation owned Atlus at one time, but was bought and split from the publisher of Tactics Ogre, Disgaea, Steambot Chronicles, Trauma Center, the Persona series, and many other popular Japanese games.

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GameStop Revenue Up Seven Percent

May 23, 2014 - GamePolitics Staff

Video game retailer GameStop reported earnings for the quarter ended May 3, last night after the closing bell. The retailer posted $2 billion in revenue, up 7 percent compared to the $1.87 billion it made in the same period a year ago. The company reported a profit of $68 million, an increase of roughly 24.5 percent compared to last year's net earnings of $54.6 million.

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Vivendi Selling $866 Million in Activision Blizzard Stock

May 22, 2014 - GamePolitics Staff

French media conglomerate Vivendi announced this morning its plans to sell half of its stake in video game publisher Activision Blizzard. This latest sale of holdings in the company will likely be used to pay down debts and focus its business on its music and media properties. Last month the company agreed to sell its SFR mobile phone unit in France to Altice and a controlling stake in African telecommunications company Maroc Telecom to Etisalat last year.

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Google Glass Engineer Joins Oculus

May 19, 2014 - GamePolitics Staff

A former Google employee and the lead engineer on Google Glass has left the company to join virtual reality headset maker Oculus VR. Adrian Wong was senior hardware engineer of the Explorer Edition of Google Glass prior to joining Oculus.

During his time at Google, Wong was responsible for a number of duties on the Explorer Edition, including working on hardware prototypes and display subsystem design and architecture.

Wong was also hardware engineering manager of the Consumer Edition of Google Glass.

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Report: YouTube in Buyout Talks With Twitch

May 19, 2014 - GamePolitics Staff

Rumors are circulating that Google's YouTube video service is in talks to buy out streaming service Twitch. According to reports in the Wall Street Journal and Variety, those talks are still in the preliminary stages. The deal is rumored to be worth $1 billion to Twitch if it comes to fruition.

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Najafi Subsidiary Acquiring JVC Americas Corp. Games Division

May 14, 2014 - GamePolitics Staff

Phoenix-based Najafi Cos. announced that its Toronto-based Cinram Group is expected to close the deal for JAI, the games software division of JVC Americas Corp. The deal is excepted to be complete within 30 days. Financial terms of the deal were not disclosed. JAI provides manufacturing and fulfillment for software and video-game publishers, as well as turnkey solutions for packaging, shipping and inventory management.

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Poll Results: Should Kickstarter Adopt an Equity-Based Investment Model?

May 14, 2014 - GamePolitics Staff

In last week's poll we asked our readers, "Should Kickstarter adopt an equity-based investment model?." A majority of voters - 58 percent - said that it should be an available option to project creators. Around 31 percent said that offering equity based funding to Kickstarter was a bad idea all around. Finally, 10 percent said that it was a good idea. Kickstarter said last week that it had no plans to use that type of model for its crowd-funding services.

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RI Gov. Chafee: The State Must Pay Down 38 Studios Loan Debt

May 14, 2014 - GamePolitics Staff

Even as an analyst appointed by Rhode Island Gov. Lincoln Chafee prepared to brief lawmakers on its findings about what would happen if the state fails to make payment on the 38 Studios loan debt, the Governor is taking his case to the public airways. Speaking to WPRI, Chafee reiterated his position on defaulting on the 38 Studios loan deal bonds.

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Standard & Poor's Puts Rhode Island on 'Negative Watch' Over 38 Studios Loan Payment Uncertainty

May 13, 2014 - GamePolitics Staff

If lawmakers in the state of Rhode Island decide sometime in the future not to pay down the debt associated with the 38 Studios loan, the entire state could end up getting a bad credit rating, which in turn could affect its ability to borrow for important projects.

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Report: Sony Execs to Take Pay Cut, Forgo Bonuses

May 13, 2014 - GamePolitics Staff

Prior to Sony reporting its consolidated results for the fiscal year ending March 31, CEO Kazuo Hirai and other executives will not be taking bonuses this year, according to the Wall Street Journal.

They may also take a 50 percent pay cut this year, according to the report. Sony's exit from the PC business as well as consumer disinterest in physical media such as DVDs and Blu-ray discs are the main reason for these reductions in pay and bonuses.

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Papa MidnightThe Verge says the sequel to Flappy Bird is nearly impossible. http://www.theverge.com/2014/8/21/6053297/swing-copters-flappy-bird-sequel08/21/2014 - 12:22pm
SleakerPC-Gamer wrote an article on what's going on with the Minecraft stuff: http://www.pcgamer.com/2014/08/21/minecraft-bukkit-team-lead-tries-to-end-development-but-mojang-steps-in/08/21/2014 - 11:55am
SleakerEVE had a high-profile ban today: http://massively.joystiq.com/2014/08/20/eve-online-lottery-site-somer-blink-shutting-down/#continued08/21/2014 - 10:26am
SleakerBut where have all the Ethics gone?08/21/2014 - 9:08am
Sleaker@EZK - one of the bigger things is that since Mojang has owned Bukkit for 2 years now, people contributing to the project have basically been doing work for them pro-bono. On top of never formalizing support. They hid the fact probably to prevent support08/21/2014 - 9:07am
SleakerIf you've played on a server with mods/plugins, you've almost for sure played on a Bukkit-based server.08/21/2014 - 8:56am
SleakerHere's Bukkit's explanation attempt at shutting down due to EULA changes: http://forums.bukkit.org/threads/bukkit-its-time-to-say.305106/08/21/2014 - 8:55am
SleakerEZK - it's the largest server mod for MC, in actuality without it minecraft for sure would not have been as popular (#1 game now).08/21/2014 - 8:54am
SleakerTo the point that it seems they have completely lost what it means to be for-community, and having transparency. Along with dumping restrictive EULA's onto people.08/21/2014 - 8:53am
E. Zachary KnightWhat is Bukkit and why should I care?08/21/2014 - 8:53am
SleakerMinecraft community exploded again today. Apparently Mojang owns all of Bukkit, and never put out a statement saying as such 2 years ago when they acquired them. I have to say, their transition from indie has been rough.08/21/2014 - 8:52am
james_fudgeThere aren't many left in America08/21/2014 - 1:50am
MechaTama31I sure have. Dorky's barcade in Tacoma, WA.08/20/2014 - 5:56pm
Matthew WilsonI have not been to a arcade in years. I know arcades are still big in japan.08/20/2014 - 5:38pm
Sleaker@AE - Ah no it's called GroundKontrol - I was just referring to it as a Bar-Arcade.08/20/2014 - 4:39pm
Andrew EisenStill looking for confirmation that High Moon Studios (dev behind the PS3/360 versions) isn't working on it.08/20/2014 - 4:38pm
ZenGotcha.08/20/2014 - 4:37pm
Andrew EisenI already updated the story with it!08/20/2014 - 4:36pm
Zenhttp://www.gonintendo.com/s/235574-treyarch-isn-t-working-call-of-duty-advanced-warfare-for-wii-u-either08/20/2014 - 4:36pm
ZenLet me send the link for the Tweet as well...they state Treyarch is not working on it. Grabbing it now.08/20/2014 - 4:34pm
 

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