Business

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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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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Poll

Whose next half decade of superhero films are you most looking forward to?:

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Neo_DrKefkaAnyone remember that portrait from Resident Evil 1 in the gallery about a Middle Aged man full of worries? Anyone know the name of that portrait?10/31/2014 - 12:45am
MechaTama31Yeah, don't see myself getting a Vita or a PSTV...10/31/2014 - 12:04am
E. Zachary KnightWatch Ultron ruin all your Disney childhood memories in this How The Ultron Teaser Should Have Ended. https://www.youtube.com/watch?v=ra1sBRLRFtc10/30/2014 - 9:23pm
ZippyDSMleeConster:they finally made a working worth while PSP emulator.10/30/2014 - 8:10pm
quiknkoldMechatama31, you can get VC2 on the Vita and Vita TV. you have to buy it through PSN on PS3 and transfer it to vita and then playstation tv. I have it on my PS TV and it works10/30/2014 - 7:15pm
MechaTama31I loved Valkyria Chronicles. Still super cheesed off that the sequels were PSP-only... :/10/30/2014 - 6:57pm
ConsterI played Steamworld Dig on the 3DS, and it's pretty fun.10/30/2014 - 6:51pm
Matthew WilsonRECOMMENDED: OS: Windows 7 Processor: Intel Core2 Duo @ 2.8GHz (or equivalent) Memory: 3 GB RAM Graphics: NVIDIA GeForce GTX 280 (or equivalent) Hard Drive: 25 GB available space10/30/2014 - 5:49pm
Matthew Wilsonhere hare the system requirements. make of ithem what you will. MINIMUM: OS: Windows Vista/Windows 7 Processor: Intel Core2 Duo @ 2.0GHz (or equivalent) Memory: 2 GB RAM Graphics: NVIDIA GeForce GTS 240 (or equivalent) Hard Drive: 25 GB available spa10/30/2014 - 5:48pm
Andrew EisenStill a game I really want to play. Hope it's a solid port.10/30/2014 - 5:42pm
Matthew WilsonValkyria Chronicles pc port needs 25ggb. not bad exept this game came out in 08 on the ps3.10/30/2014 - 4:56pm
james_fudgeEZK: my sarcasm senses are tingling ;)10/30/2014 - 4:21pm
Andrew EisenIf it's any consolation, Xbox owners, Wii U owners don't get the game at all. And if we did, we'd probably never get the DLC.10/30/2014 - 4:19pm
MaskedPixelantehttp://kotaku.com/destinys-new-dlc-kinda-screws-over-xbox-players-1652294153 Sucks when the shoe's on the other foot, huh.10/30/2014 - 4:12pm
E. Zachary KnightSo a vocational school in Oklahoma is being evacuated because someone found a briefcase in the bathroom. Imagine that. A briefcase ina school. That's unpossible.10/30/2014 - 3:33pm
prh99Also, Nintendo wants to watch you sleep..for Science! (*in best Cave Johnson voice) http://arstechnica.com/gaming/2014/10/nintendo-wants-to-watch-you-sleep-for-science/10/30/2014 - 2:47pm
prh99I got it in a Humble Bundle, it's ok but the hype is definitely over blown. Also, only being able dig in the four cardinal directions made for some irksome digging..10/30/2014 - 2:38pm
E. Zachary KnightI enjoyed it. It was very short, but rewarding and fun.10/30/2014 - 2:35pm
Andrew EisenAgainst my better judgement (game looks boring to me), I purchased Steamworld Dig. It's highly praised and it was on sale. Hopefully I'll be wrong about it and think it's as awesome as everyone else.10/30/2014 - 2:09pm
quiknkoldhttp://www.pastemagazine.com/articles/2014/10/femme-doms-of-videogames-bayonetta-doesnt-care-if.html10/30/2014 - 1:15pm
 

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