Business

Report: Ouya in Acquisition and Investment Talks

September 2, 2014 - GamePolitics Staff

According to what GamesBeat describes as "a credible source who is close to the matter," Ouya is in preliminary talks about a possible acquisition or investment in the company.

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Rumor: Activision in Talks to Buy Take-Two

September 1, 2014 - GamePolitics Staff

GamesIndustry International talks to two financial analysts who closely watch the video games industry sector about what they make of rumors that Activision could possibly acquire Take-Two. This rumor began circulating over the weekend after Mike Hickey, an equity researcher for the Benchmark Company, sent a note to investors on Friday claiming that the two companies were engaged in what he categorized an "emerging romance."

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BuzzFeed Spending Some of Its $50 Million Funding on Casual Games

September 1, 2014 - GamePolitics Staff

BuzzFeed will use some of the $50 million it secured last month to develop games. According to this TechCrunch report, BuzzFeed will use that investment to develop casual games - just one measure the company is working on to expand its audience.

BuzzFeed vice president of product Chris Johanesen tells TechCrunch that games are just one more part of an overall strategy to get visitors to do more than consume its content. In other words, it's a move towards more engagement.

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CCP Games Fire Two Executives, Closes San Francisco Office

August 28, 2014 - GamePolitics Staff

Update: A rep. for CCP Games informed us that CCP Games CFO Joe Gallo and CMO David Reid left the company voluntarily, and were not fired, as was previously reported.

Original Story: EVE Online maker CCP Games announced during its latest financial report that it is shutting down its San Francisco-based game development studio and letting two executives go. The news comes on the heels of the company reporting a downturn in year-over-year profits.

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Amazon Promises 'No Change' In How Twitch Operates

August 26, 2014 - GamePolitics Staff

While it is the typical line for a company to use when buying out something so beloved by the community as Twitch is, Amazon said last night that it has no plans to make any changes to the popular community-driven video game streaming service. Amazon announced yesterday that it had acquired Twitch for an estimated $970 million. Michael Frazzini, vice of president of Amazon Games, and Twitch CEO Emmett Shear said during a "town hall meeting" last night that the deal shouldn't worry Twitch users.

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GameStop Sees 25 Percent Increase in Global Sales During Q2

August 22, 2014 - GamePolitics Staff

Video games retailer GameStop reported a 25 percent increase in total global sales compared to the same period a year ago. The company reported $1.73 billion for the second quarter of this year, a 25.1 percent increase over last year's Q2 number of $1.38 billion. Consolidated comparable store sales increased 21.9 percent and net earnings for Q2 came in at around $24.6 million, up 134.3 percent from $10.5 million in the same period last year.

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GunHo Sells Stake in Supercell

August 21, 2014 - GamePolitics Staff

Japanese game developer GungHo Entertainment has sold its stake in Supercell to its own parent company, SoftBank. GII reports that the Puzzle & Dragons developer sold its holdings in the Finnish studio because it wanted to focus more on emerging markets such as "China, Southeast Asia, and South America."

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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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Which Feminist Frequency video are you looking forward to most?:

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Matthew WilsonI hope some company buys sega's ips. creative assembly, and Atlas. the rest of sega can bugger off.01/31/2015 - 4:03pm
WonderkarpTropes VS Women Refund : An Open Letter to Feminist Frequency https://www.youtube.com/watch?v=UoucuL1jazI Guy trying to get refund from the kickstarter01/31/2015 - 3:50pm
Goth_SkunkPrototype was all right. I had way more fun running around in the open world, scaling buildings, gliding in the air, and pulling off insane helicopter-capturing maneuvers than I did with the actual story, though. Eventually the novelty wore off.01/31/2015 - 3:31pm
Andrew EisenI don't know about Joystiq, we may mention it but I don't know that there's that much to really discuss but yeah, Nintendo's YouTube Creator's Program is on the agenda.01/31/2015 - 2:45pm
MonteMatt: they have articles on both Joystiq and nintendo's youtube BS.01/31/2015 - 2:30pm
prh99http://blog.us.playstation.com/2014/12/31/playstation-plus-januarys-free-games/01/31/2015 - 1:56pm
Matthew Wilsonyou guys going to talk about the Joystiq closing, and Nintendo losing its mind?01/31/2015 - 1:11pm
Andrew EisenNeo - Do you have any evidence of that? Please link.01/31/2015 - 11:43am
Papa MidnightI enjoyed the first Prototype... even if the PC Port was horribly done. Prototype 2, however, far exceeds it. It's actually a decent game in my opinion.01/31/2015 - 11:24am
Wonderkarpreally? I didnt play it because the first one sucked. I didnt even know the main characters black01/31/2015 - 10:38am
Neo_DrKefkaFor those who don't know Prototype 2 is free for the PS3 on PS PLUS! It's a great game that failed due to collusion with activist bloggers before the game was released that people would hate it because the main characters black.01/31/2015 - 9:53am
Wonderkarpalso heard Techraptor is working on a big news piece on indiecade01/31/2015 - 9:47am
WonderkarpAndrew : All I know is he was critical of the block list and said the coding was bad.01/31/2015 - 9:42am
prh99Devolvers response to Nintendo's creator program https://mobile.twitter.com/devolverdigital/status/56082061398444851301/31/2015 - 3:24am
Andrew EisenI only know of him being annoyed that IGDA mistakenly hosted on its anti-harassment tools page a blocklist he was on. What else was he critical of?01/31/2015 - 2:19am
Goth_Skunk@WonderKarp: Given Rosario's outspoken criticisms of the conduct of the IGDA, I would not be one bit surprised if he's being strong-armed into silence in closed-door meetings. He's not towing the party line, after all.01/30/2015 - 11:38pm
MechaTama31EZK: Thank you! (And I was able to see that you did it, only because you did it. How appropriate! :)01/30/2015 - 11:37pm
Matthew Wilson@Monte Nintendo is a Japanese company though. consoles are dead in japan. ps sony is a international company, so they do not much care about Japanese sales much.01/30/2015 - 10:11pm
MonteOnly one generation ago nintnedo had the best selling console. They know their games are still popular and can move their hardware. They just need to focus on better gaming hardware and advertising (their youtube policy not helping)01/30/2015 - 9:58pm
MonteI'd expect Nintendo to keep making consoles, much like the gamecube i doubt nintendo will see the Wii U as a sign of the end for consoles. There are multiple reason why the Wii U failed a big one being marketting.01/30/2015 - 9:55pm
 

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