Business

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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King.com Reveals Record Q1 FY 2014 Revenues

May 7, 2014 - GamePolitics Staff

In its first earnings report as a publicly traded company Candy Crush Saga maker King.com reported revenue of $606.7 million for the first fiscal quarter of 2014. The company claims that it currently has 143 million active users participating in its games on a daily basis. King's profits reached $127.2 million and mobile gross bookings for the quarter reached a record quarterly high of $480 million.

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Rovio Reveals 'LVL 11' Publishing Label

May 7, 2014 - GamePolitics Staff

Rovio, who is already operating a third-party publishing label called Rovio Stars, revealed another publishing label called Rovio LVL 11. The new label is apparently for internal games that don't quite fit in with Rovio's overall brand.

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Activision to Spend $500 Million on 'Destiny' Series

May 6, 2014 - GamePolitics Staff

Activision has set aside $500 million in total to develop, manufacture and promote the Bungie's Destiny series. That big number was revealed by Activision chief executive Bobby Kotick at the Milken conference in LA, as reported on by Reuters.

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Sony Forecasts a Net Loss of $1.3 Billion for Fiscal Year 2013

May 1, 2014 - GamePolitics Staff

Sony announced today that it expects to report a net loss of 130 billion yen ($1.3 billion) for the 12 month period that ended on March 31, 2014. That compares with a loss of 110 billion yen ($1.1 billion) forecast in February, a reduction from its October 2013 projection of a 30 billion yen ($294 million) profit. Sony won't report its consolidated results for the fiscal year until May 14, but it published a preliminary earnings report on Thursday to get investors prepared for the news.

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Glu Mobile Acquires PlayFirst

May 1, 2014 - GamePolitics Staff

Glu Mobile has acquired Diner Dash maker PlayFirst, according to this GII report. The transaction is expected to close this month. Glu Mobile bought the company by offering PlayFirst shareholders 3 million shares of the company's common stock and by taking on $3.55 million of PlayFirst's debt.

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Rovio Profits Down by 52 Percent in FY13

April 28, 2014 - GamePolitids Staff

Angry Birds maker Rovio may have spent too much time focusing on its number one hit game franchise. According to this Gamasutra report, Rovio's profits were cut by more than 50 percent during the 2013 fiscal year.

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Microsoft Completes Acquisition of Nokia

April 28, 2014 - GamePolitics Staff

Microsoft has finally completed its acquisition of mobile phone maker Nokia. The completion of the acquisition follows approval from Nokia shareholders and various governmental regulatory agencies around the world. Microsoft announced on Sept. 3 of last year that it intended to acquire Nokia for a total of $7.5 billion in cash. The deal consisted of approximately $5 billion and an agreement to license Nokia's patents for $2.17 billion.

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Free Press Offers Tips on How to Speak Out on Net Neutrality

April 25, 2014 - GamePolitics Staff

Advocacy group Free Press is not happy about the FCC's future changes to the Open Internet Order of 2010. They have several useful links that will make it easier for you to let your voice be heard at the FCC and multiple articles on why FCC Chairman Tom Wheeler's proposal will do more harm than good to Net Neutrality.

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Zynga Reports Q1 Loss of $61 Million

April 24, 2014 - GamePolitics Staff

Social and mobile game maker Zynga reported a first-quarter loss of $61 million, compared to a $25 million loss from its previous quarter and a profit of $4 million the same period a year ago. Zynga also announced that its founder Mark Pincus, who had already stepped down as its chief executive officer, would leave his role as chief product officer, basically ending his executive duties at the firm. Pincus remains the chairman of the board.

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NetEase Licenses 'Heroes of the Storm' for Mainland China

April 22, 2014 - GamePolitics Staff

Blizzard Entertainment, Inc. and NetEase have inked an agreement to license Blizzard Entertainment's Heroes of the Storm to a NetEase-affiliate in mainland China for a term of three years. Heroes of the Storm is Blizzard's upcoming free-to-play, online team brawler featuring heroes from more than 20 years of Blizzard gaming history. Gamers will be able to play some of their favorite characters from the Warcraft, StarCraft, and Diablo universes, and team up with friends to battle other teams online.

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Netflix Publicly Opposes Comcast-TWC Merger, Announces Rate Hike for New Customers

April 22, 2014 - GamePolitics Staff

Last week Senator Al Franken (D-Minn.) sent a letter to entertainment streaming service Netflix asking the company to weigh in on the proposed merger between Comcast and Time Warner Cable. This week Netflix gave its opinion... to shareholders.

"If the Comcast and Time Warner Cable merger is approved, the combined company’s footprint will pass over 60 percent of U.S. broadband households," Netflix CEO Reed Hastings wrote in a letter to shareholders, adding, "Comcast could control high-speed broadband to the majority of American homes."

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Perfect World to Buy 30 Million Shares in Shanda Games

April 21, 2014 - GamePolitics Staff

China-based MMO developer and publisher Perfect World Entertainment announced this morning that it has entered into an agreement to purchase more than 30 million shares of Chinese MMO outfit Shanda Games Limited for $100 million in cash.

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NCSoft Invests $4.8 Million in Lezhin Entertainment

April 17, 2014 - GamePolitics Staff

Online game maker NCsoft has invested an estimated $4.8 million in South Korean web comics firm Lezhin Entertainment, according to GII.

NCsoft said that the ₩5 billion ($4.8 million USD) investment in Lezhin will offer opportunities to leverage its IP in new ways, and that it will also allow Lezhin to leverage its portfolio of intellectual property for creating interactive entertainment.

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Sony Unloads Holdings in Square Enix

April 16, 2014 - GamePolitics Staff

Sony Computer Entertainment announced this morning that it has sold all of its holdings - its entire 9,520,000 shares - in Square Enix to SMBC Nikko Securities. An income of nearly 4.8bn yen will be marked down in Sony's financial report for the year ending 31st March 2015, with the exact sale price of the shares to be revealed tomorrow. Sony's annual financial report for the year ending March 31, 2014 will be released on May 14 and will likely contain a forecast for the year ahead that will include the sale of the shares.

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CCP Games Records FY13 Loss

April 15, 2014 - GamePolitics Staff

CCP Games recorded a loss of over $21 million for financial year 2013, the company announced today. This is a major decline from a profit of $4.6 million in the previous year. Revenues for the company rose to $76.7 million from $56.3 million. So what caused the massive drop for 2013? According to CCP, a massively increased R&D budget. That budget climbed from $16.5 million in FY 2012 to $56.5 million in FY 2013. The costs are likely related to the development of Eve: Valkyrie, Eve Online, Dust, and costs related to the now cancelled World of Darkness MMO.

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TechnogeekMy third "dart" wound up hitting a Chinese website for soccer scores, and the fourth hit Pokemon.com. Not one of those had anything to do with white guys getting harassed because they're white guys.09/19/2014 - 8:56pm
TechnogeekFor the record, I actually tried "throwing a dart at the Internet", or at least approximating it as best I could by zooming in at random spots on internet-map.net. First hit was a perfume seller, and then some sort of insurance spammer.09/19/2014 - 8:56pm
Technogeek"While you could throw a dart at the internet and find a site where Gamers in General are being harassed, doxxed, hacked, just because they are being perceived as white males." http://www.youtube.com/watch?v=FopyRHHlt3M09/19/2014 - 8:47pm
Andrew EisenSarkeesian and Quinn continue to get harassed and attacked (with the majority of said harassment and attacks being about their gender) and so, the story stays in the headlines. If Wolfe gets swatted again, it will be in the news again.09/19/2014 - 6:56pm
Andrew EisenYou mean Wesley Wolfe? The swatting appeared to be over his DMCA takedown, not due to his color or gender.09/19/2014 - 6:53pm
ConsterSo Sleaker, what's the sand like?09/19/2014 - 6:53pm
quiknkold@CraigR. Spreading Misandry is not going to kill Misogyny. Its just going to fuel it. half the people supporting that arguement are mysoginists themselves. They just dont know it.09/19/2014 - 6:51pm
Sleaker@CraigR - there's nothing to get over. There's no issue here until someone does an actual study on harassment rates.09/19/2014 - 6:48pm
quiknkoldWe never said Gamers were the only victims. Yes, Anita and Zoe got a bad rap. Yes, Zoe's ex was way out of line. Do I disagree with them? Depends on the arguement. Did they deserve what happened to them? Hell Effing No.09/19/2014 - 6:48pm
Sleakerbut news outlets have a tendency to blow up and sensationalize it if the person can be desrcibed as a minority, maybe because it gets the hits. How long were the 2 recent swattings in the news for? 1 was a white male developer....09/19/2014 - 6:47pm
Craig R.Get over it.09/19/2014 - 6:46pm
Craig R.Gamers are just lucky that their behavior wasn't brought to attention of everybody else sooner, and gamers are pissy about that09/19/2014 - 6:46pm
SleakerIn fact, just because a few female developers every year get harassed doesn't make it systematic. As a whole developers are harassed by people.. Swatted, etc.09/19/2014 - 6:46pm
Craig R.And if you don't think misogyny and sexism is widespread, then you're living with your head buried in the sand09/19/2014 - 6:45pm
Craig R.Apparently it's the gamers who are the only victims from GamerGate09/19/2014 - 6:44pm
Sleaker@AE - 1 person getting harassed is a problem. But just because 1 person gets harassed for being a female developer doesn't mean it's a systematic problem or indicative of a whole demographic.09/19/2014 - 6:44pm
Andrew EisenI don't believe anyone said or even remotely implied that harassing anyone was okay.09/19/2014 - 6:41pm
quiknkoldGeneral are being harassed, doxxed, hacked, just because they are being perceived as white males. And what about the White Males who are victims. Its ok to harass them? Anita Sarkeesian gets a bomb threat yeah, but what about the others.09/19/2014 - 6:36pm
quiknkoldwhat about all the gamers who are being harrassed, Andrew. Why does it have to be just about the women in the industry. We have 2 women, and only a handful of accounts recorded. While you could throw a dart at the internet and find a site where Gamers in09/19/2014 - 6:35pm
Andrew EisenOkay, you're talking specifically about harassment of women in the industry. So... how many (or what percentage of) women have to be harassed before you'd consider it a problem?09/19/2014 - 6:27pm
 

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