Business

Report: Majesco to Initiate Reverse Stock Split to Stave Off Nasdaq Delisting

February 20, 2014 - GamePolitics Staff

According to what Majesco Chief Financial Officer Michael Vesey has told Joystiq today, the company will fend off a Nasdaq stock exchange delisting by launching a reverse stock split in April. Majesco has not been in compliance with Nasdaq rules which require that companies trading on the exchange maintain a minimum price per share of at least $1. The company has not been in compliance with that rule since March of 2013.

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Sega to Split Atlus and Parent Company Index Up

February 18, 2014 - GamePolitics Staff

More details have emerged on what Sega plans to do with Atlus and its parent company, Japan-based Index. Sega acquired the original North American publisher of Tactics Ogre, Disgaea, Steambot Chronicles, Trauma Center, the Persona series, and many other popular Japanese games in September 2013 in a deal that cost the company an estimated $140 million.

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King Lays Groundwork to Become Publicly Traded Company

February 18, 2014 - GamePolitics Staff

Candy Crush Saga maker King has filed the paperwork to become a publicly traded company on the New York Stock Exchange (NYSE). The company has filed an application to register with the Stock Exchange under the name King Digital Entertainment, in an IPO that some believe is worth upwards of $500 million.

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Nexon's New CEO Keen on Western Acquisitions and Investments

February 14, 2014 - GamePolitics Staff

Nexon's newly appointed CEO Owen Mahoney tells Reuters that his company is keen on acquiring North American IP to gain a better footing in Western markets. Nexon runs the still-popular MOO Maple Story and plenty of other online free-to-play titles.

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Michael Pachter Prediction: Games Sales Down 20 Percent in January

February 10, 2014 - GamePolitics Staff

According to a research note from Wedbush Securities analyst Michael Pachter to investors, game sales dipped 20 percent on the weakness of current generation sales in the month of January. Pachter is making his predictions ahead of the NPD Groups' retail report for the month of January. When those numbers are released on Thursday, Pachter says that they will show that retail software sales fell 20 percent in January to around $300 million - down 20 percent from the $373 million generated in the same period a year ago.

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Sony's Revenues Rise with PS4, But Layoffs and Shifts in Operations Are Coming

February 6, 2014 - GamePolitics Staff

Sony's games division (which covers PS Vita, PS3, PS4, Sony Computer Entertainment, Sony Online Entertainment, and PlayStation Network) recorded sales and operating revenue of 441.8 billion yen (or $4.35 billion USD) for the quarter ending Dec. 31, 2013. That's a 64.6 percent year-on-year increase thanks to the launch of the PlayStation 4 in major markets around the world last November.

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Amazon Acquires Killer Instinct Developer

February 6, 2014 - GamePolitics Staff

Here's an odd but true story. Online retailer and Kindle Fire maker Amazon has acquired Killer Instinct creator Double Helix for an undisclosed amount of cash. The Irvine, California-based company that created Killer Instinct for the Xbox One console, was founded in 2007 through the merger of The Collective and Shiny Entertainment. The company currently employs around 75 people, who will continue to operate out of their Orange County offices, according to TechCrunch.

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Report: Disney Interactive to Lay Off 'Several Hundred' Employees

February 4, 2014 - GamePolitics Staff

The Wall Street Journal (subscription required) is reporting that Disney Interactive is getting ready to lay off several hundred employees from its global workforce. The layoffs are expected to begin shortly after the company releases its latest quarterly results - which will happen tomorrow. Currently the company employs about 3,000 people across various studios.

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Take-Two Rakes in $578 Million in FYQ3 on GTA V Sales

February 4, 2014 - GamePolitics Staff

Publisher Take-Two Interactive released financial results for its fiscal third quarter ending December 31, 2013, revealing that it raked in a whopping $578 million in profits. The company attributed the lion's share of this profit to its latest game in the popular Grand Theft Auto series, Grand Theft Auto V.

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Nintendo's Yamauchi Family Plans to Sell Shares

February 3, 2014 - GamePolitics Staff

Following Nintendo's less-than-stellar fiscal report last month and the company's investor briefing (which laid out plans that not everyone thought were all that clear cut), the company has revealed a 114.2 billion-yen ($1.1 billion) share buyback plan set to launch tomorrow.

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Mojang Sells Over 14 Million Copies of Minecraft for PC

February 3, 2014 - GamePolitics Staff

The PC version of Minecraft has passed the 14 million copies sold mark, according to Mojang co-founder and game creator Markus 'Notch' Persson. Over the weekend Persson tweeted the latest milestone for his hit building game. That's up from the number of 13 million in sales by the end of December 2013.

Mojang also recently announced sales of 10 million copies of the Xbox 360 version and one million copies of the PlayStation 3 version. The PS3 version hit that impressive milestone after only five weeks of availability on the platform.

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Report: Funcom Under Investigation for Insider Trading

January 29, 2014 - GamePolitics Staff

Norwegian MMO developer and publisher Funcom is under investigation for insider trading, according to this Eurogamer report. According to the report, staff were sent home today as Norwegian authorities collected documents related to an investigation into insider trading, though specific details about the investigation remain unknown as of this writing. Funcom's stock has also been temporarily frozen on the Oslo stock market.

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EA: Weaker Last-Gen Battlefield 4 Sales Due to Console Transition, Not Launch Issues

January 29, 2014 - GamePolitics Staff

EA COO Peter Moore says that weaker sales of Battlefield 4 on last generation consoles are due to the turbulence of the console transition and not 'quality issues' that plagued the game's launch. EA announced last night that next-gen software sales were robust, but not strong enough to offset a massive decline in last-generation software during the holiday season.

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EA's Q3 Results Lowered By Weaker Sales of Last-Generation Software

January 29, 2014 - GamePolitics Staff

Electronic Arts announced financial results for the fiscal third quarter of 2013 that ended on Dec. 31. The company said that sales of next-generation software (PS4, Xbox One) were robust, but not enough to offset a massive decline in last generation software sales (PS3, Xbox 360). EA said that it was the number one third-party publisher of next-generation software, taking a 35 percent market share during the holiday season.

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GungHo Expects to Rake in $1.2 Billion in 2014

January 28, 2014 - GamePolitics Staff

Puzzle & Dragons developer GungHo Online expects to rake in around $1.2 billion in revenue this year, and because it keeps its overhead low, it expects to keep about $700 million of that figure after expenses. These numbers are from CEO Kazuki Morishita, who recently spoke with CNN Fortune about the company's runaway hit game and business in general.

He attributes at least some of his company's success to his experience as a Manzai artist and stand-up comedian - believe it or not.

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Indiegogo Raises $40 Million in Latest Funding Round

January 28, 2014 - GamePolitics Staff

Crowdfunding platform Indiegogo has raised $40 million in a brand new round of funding, the company announced this week. The money, which it earned the old fashioned way (not through crowdfunding, but soliciting investments from high profile lenders), will be spent to expand its business globally, and allow it to better support mobile platforms. Indiegogo CEO Slava Rubin also wants to use the money to raise the funding engine's profile worldwide. Indiegogo raised the $40 million from Institutional Venture Partners and Kleiner Perkins Caufield & Byers.

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One Million Copies of Minecraft on PS3 Sold

January 27, 2014 - GamePolitics Staff

It should come as no shock to anyone that Minecraft on the PS3 has sold one million copies. Mojang's Daniel Kaplan described the new sales milestone as "crazy" but no one should be surprised that PS3 owners love Minecraft as much as everyone else does.

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Microsoft Buys Gears of War Franchise, Gives Rod Fergusson The Reigns

January 27, 2014 - GamePolitics Staff

Microsoft has purchased the Gears of War franchise from Epic Games, much like it did with Halo. The company now owns the franchise and all previous versions of the game. The Globe and Mail has all the details on the deal, including the fact that Microsoft's Vancouver-based studio, Black Tusk Studios, will be in charge of the franchise moving forward.

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Three Million Disney Infinity Starter Packs Sold

January 20, 2014 - GamePolitics Staff

Disney's game and toy tie-up Disney Infinity has managed to sell through three million "starter packs" according to the New York Times. The game launched in August of 2013 and managed to move three million units. Starter packs come with the game, an Infinity Base peripheral, three character figures, three Play Sets, one Disc and unique Web codes for online and mobile content. The Xbox 360 version of the starter pack starts at right around $80.

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Nintendo Stock Declines 18 Percent After Revised Guidance on Fiscal Year Profit

January 20, 2014 - GamePolitics Staff

On Friday Nintendo projected that it would take a $240 million net loss for the fiscal year ending in March on weak holiday sales of its Wii U console and related software, and scaled back its sales projections for its home console and its 3DS hand-held. This morning the company is seeing the effects of that news in its stock price, according to this BBC report.

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Majesco Reveals Fourth Quarter and FY 2013 Losses, Dumps Zumba

January 15, 2014 - GamePolitics Staff

Publisher Majesco released results for its fourth fiscal quarter of 2013 as well as for the full year, and it is not good news. For the quarter, the Zumba publisher said that net revenues were down a whopping 62 percent to $10.1 million, with a net loss of $4.6 million. For the full fiscal year, Majesco's net revenues declined 64 percent to $47.3 million, leading to an operating loss of $12.6 million.

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GameStop Holiday Sales Up on New Hardware Sales

January 14, 2014 - James Fudge

GameStop said today that it generated $3.15 billion in total worldwide sales over the nine-week holiday shopping season of 2013. The numbers represent a 9.3 increase over the same period a year ago, which can be directly attributed to new consoles and new console software sales. In fact, GameStop said that hardware sales were up 99.8 percent over the same period a year ago. Go figure.

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PopCap CEO to Retire Next Week

January 3, 2014 - GamePolitics Staff

Dave Roberts, chief executive of Electronic Arts’ PopCap Games division, will retire next week, according to a GamesBeat report. Roberts, who joined the company almost nine years ago will officially exit the company on January 8, with PopCap co-founder John Vechey taking over the job of CEO at the Seattle-based studio responsible for the Plants vs. Zombies and Bejeweled franchises.

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NSA Catalog Offers Spies Backdoors for America's Biggest Networks, Technology

December 30, 2013 - GamePolitics Staff

According to an article published by Germany’s Der Spiegel newspaper on Sunday, the National Security Agency (NSA) has a catalog of "backdoors" that allows spies to infiltrate equipment from major computing and security vendors including firewalls from Juniper Networks, hard drives from Western Digital, Seagate, Maxtor and Samsung, networking gear from Cisco and Huawei, and unspecified equipment from Dell.

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Former EA Exec Joins New Oculus Publishing Division

December 20, 2013 - GamePolitics Staff

David DeMartini, a former senior vice president at EA has joined Oculus VR as its new head of worldwide publishing. DeMartini is the first executive to join this brand new division. He says that this new position is not unlike what he did for Electronic Arts.

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Japanese Publisher Cyber Front Dissolved

December 20, 2013 - GamePolitics Staff

This week Japanese publisher Cyber Front announced its dissolution in a simple statement (PDF, Japanese) published on its website (according to a translation by Gamasutra).

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Investors File Class Action Lawsuit Against EA Over Battlefield 4 Launch

December 19, 2013 - GamePolitics Staff

Electronic Arts has found itself on the business end of a class action lawsuit related to the numerous bugs, glitches, and technical problems related to Battlefield 4. The game, which launched in November on PC, PS3, PS4, Xbox 360, and Xbox One has suffered numerous problems since launch, and while EA and developer DICE have tried to get a handle on things, apparently some investors (not players, surprisingly enough) are so upset that they have decided to take the fight to a court room.

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Sony Looking to Make $250 Million in Cuts

November 22, 2013 - GamePolitics Staff

In a meeting with investors today (as detailed by Bloomberg) Sony CEO Kaz Hirai acknowledged that the company is looking to make $250 million worth of cuts in its entertainment business, but gently rejected a plan by its biggest shareholder to sell off its media business.

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Disney Reorganizing Games Division, John Pleasants Leaving Company

November 11, 2013 - GamePolitics Staff

The Walt Disney Company is reorganizing its video games and media groups under the auspices of Disney Interactive, according to a GII report. The company will merge the two group together and current co-president Jimmy Pitaro will take charge of the division. Co-President John Pleasants will be leaving his current post, but he will reportedly work closely with Pitaro "to ensure a smooth transition and serve as a strategic consultant to the business."

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PlanetSide 2 Coming to South Korea as a Free-to-Play Game

November 7, 2013 - GamePolitics Staff

Sony Online Entertainment (SOE) has partnership with South Korean publisher Daum Communications to bring the massively multiplayer online first-person shooter (MMOFPS) PlanetSide 2 to the region. SOE and Daum will showcase PlanetSide 2 at the G-STAR Global Game Exhibition in Busan, South Korea on November 14-16, 2013.

Daum has secured the exclusive publishing rights to the game, including dedicated servers, local customer support and payment gateways for South Korea. PlanetSide 2 will launch in the region as a free-to-play game.

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Will the FCC preempt state laws that limit municipal broadband services?:

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PHX CorpI'm going to do a test stream later today, if anyone is intrested07/31/2014 - 2:40pm
Andrew EisenYes, I'm such a big Nintendo dork that I read Nintendo's quarterly financial reports.07/31/2014 - 2:09pm
Andrew EisenCool tidbit - Mario Kart 8 sales account for more than half of total Wii U software sales for the last quarter even though it was only available for the last third.07/31/2014 - 2:09pm
Andrew EisenStill a pretty cool promotion. Unfortunately for me, I'm not interested in purchasing Mario Kart 8 and I already owned or didn't want any of the free games on offer.07/31/2014 - 1:43pm
Andrew EisenInteresting that EU had 10 games to choose from while North America only had four.07/31/2014 - 1:41pm
MaskedPixelanteIt certainly worked, I probably would never have bought Mario Kart 8 if it didn't come with a free copy of Wind Waker HD.07/31/2014 - 1:14pm
Andrew EisenI imagine will see similar promotions like "Buy Mario Kart 8 get a download code for one of these specific games" but almost certainly not for all of its (however you would define) biggest releases.07/31/2014 - 11:24am
MaskedPixelanteI wonder if Nintendo is going to be doing "buy one get one free" promos for all their biggest releases going forward.07/31/2014 - 10:48am
MaskedPixelantehttp://www.mcvuk.com/news/read/special-report-retail-revolt-over-pc-code-strippers/013614007/31/2014 - 8:27am
ZippyDSMleeWouldn't they be able to afford and get done in a timely manner a general gba emluator for the 3DS? It seems to me if they want to make money off sales they need to do it.07/31/2014 - 7:25am
Sora-ChanAmbassador program, that's what I was looking for. Anyway the other games that have been made no longer exclusive to the early adopters got updates in their software. It'll only be a matter of time more than likely for the GBA to get the same treatment.07/31/2014 - 5:35am
Sora-ChanI might be naming it incorrectly when I say "founder" i mean the program for earlier adopters.07/31/2014 - 5:34am
Sora-Chanthe 3DS's GBA emulator was a rush job due to the founder program. No other GBA titles have been released on the 3DS yet. If/When they do get around to it, they'll more than likely update the emulation software.07/31/2014 - 5:32am
Zenemulator...it's not just a slap job that makes "some" work..they do it for each which is why they work so well. I would rather have the quality over just a slap job.07/30/2014 - 5:48pm
ZenMatthew there is a difference between "worked" and "accurate". You play the Nintendo VC titles they play as damn close to the original as possible. The PSP would just run them as best they could, issues and all. And Masked...EACH VC title has their own07/30/2014 - 5:48pm
MaskedPixelanteOnce again, the 3DS already HAS a GBA emulator, it just can't run at the same time as the 3DS OS.07/30/2014 - 4:54pm
Matthew Wilsonyou cant street pass in ds mode ether, and if moders can make a gba emulator that runs very well on the psp as I understand it. you are telling me that Nintendo devs are not as good as moders?07/30/2014 - 4:49pm
Zenperformance. Halo 1 and 2 worked great because they actually did custom work on each of them...just like Nintendo does now lol07/30/2014 - 4:08pm
Zenexisting hardware while the GBA has to be emulated completely. Same reason the 360 couldn't run most Original Xbox games correctly, or had issues because they just did "blanket approach" for their emulation which led to game killing bugs or horrible07/30/2014 - 4:07pm
ZenSora/Matthew: It's not just Miiverse, but the whole idea of streetpass and things like that would be affected if the OS is not running. And just because a 3DS game can be downloaded and run does not mean that GBA can as easily. Those 3DS games use the07/30/2014 - 4:06pm
 

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