Business

inXile Signs Distribution Deal with Deep Silver for Wasteland 2

July 11, 2013 -

Developer inXile Entertainment and publisher Deep Silver signed a distribution deal for inXile’s crowd-funded computer role-playing game Wasteland 2. inXile is developing Wasteland 2 and Torment: Tides of Numenera, both funded via highly successful Kickstarter campaigns. inXile Entertainment says that this deal allows the studio to focus on the creative aspects of developing the game, while Deep Silver will handle the retail release of the game and the physical good fulfillment for the Kickstarter backers.

1 comment | Read more

Linden Labs Acquires Desura

July 10, 2013 -

Linden Labs - best known for creating the sandbox virtual playground Second Life, has purchased digital distribution platform Desura for an undisclosed amount of money. Linden Labs did not say exactly why they purchased the platform, but one would guess that it was an easy way for the company to get into the business of digitally distributing games.

1 comment | Read more

Activision CEO Second Highest Paid Executive in America in 2012

July 1, 2013 -

A New York Times report detailing executive pay for the top companies in the United States shows an increase that the median 2012 pay package came in at $15.1 million a leap of 16 percent from 2011. But the more interesting aspect of the report is who is on top. It should be noted that when the NYT says executive pay that includes any bonuses, benefits and salary - and sometimes these bonuses are spread out over multiple years.

| Read more

Atlus at Risk as Parent Company's Future is Uncertain

June 27, 2013 -

Publisher Atlus has an uncertain future today as its parent company in Japan, Index, wrestles with what seems like an insurmountable amount of debt. According to a CNet Japan report, Index has filed for civil rehabilitation proceedings as it faces bankruptcy. The company owes an estimated ¥24.5 billion - roughly $224 million - in debt and its current president Ochiai Yoshimi has hinted that he will resign soon.

3 comments | Read more

Oculus VR Raises $16 Million for Virtual Reality Hardware

June 18, 2013 -

Oculus VR has secured $16 million in its first round of funding as the company moves towards bringing its virtual reality hardware technology to the masses. According to reports from Panodaily and AllThingsD the series A funding round was led by Spark Capital and Matrix Partners.

2 comments | Read more

BMO: Next-Generation Future Will Bring a Sustained Period of Growth

June 14, 2013 -

With E3 over, equity research firm BMO Capital Markets offers its perspective on all the big players and the industry as a whole going forward. According to BMO analyst Edward Williams the video games industry has earned an overall rating of "outperform." In a note to investors Williams says that the interactive entertainment industry is on the cusp of a "period of sustained growth."

Williams comes to this conclusion based on the press events this week at E3 which fully revealed two new consoles and a healthy line-up of games for them.

3 comments | Read more

Analyst: Sony Wins at E3

June 13, 2013 -

Robert W. Baird & Co. Incorporated analyst Colin Sebastian offered his E3 Expo wrap-up report to investors, saying the Sony's PlayStation 4 was the clear winner at the trade show which ends in a few hours.

Sebastian said that after meeting with multiple publishers and evaluating all of this year's E3 press conferences, his firm remains cautiously optimistic on the sector. He said that platform holders still need to offer a compelling reason to upgrade, and a clear value proposition for mainstream audiences.

2 comments | Read more

THQ Details Asset Sales Transactions in SEC Filing

June 6, 2013 -

In a FORM 8-K filing with the U.S. Securities and Exchange Commission (SEC), bankrupt game publisher THQ disclosed that certain transactions that were the result of a massive asset auction have closed. The company also disclosed particulars on the current employment of its interim president Edward L. Kaufman.

| Read more

Atari Seeks Permission to Hold Asset Auctions in July from Bankruptcy Court

May 23, 2013 -

Atari Inc., the US division of French parent company Atari S.A., has asked a U.S. bankruptcy court for permission to auction off its assets in July. The assets include the Atari logo, the Test Drive, Asteroids, Pong, Total Annihilation, and Rollercoaster Tycoon franchises.

Atari filed for bankruptcy in January and tried to solicit bids for its entire catalog, but the 15 offers it received were deemed unacceptable. Now the company hopes to divide its assets up and sell them separately in hopes of generating more cash to pay down its debtors.

2 comments | Read more

Sony Considers Suggestion for Entertainment Division IPO

May 22, 2013 -

Bloomberg is reporting that, under pressure from its shareholders, Sony executives and board members have decided to discuss billionaire Daniel Loeb’s proposal for an initial public offering of its entertainment business. Loeb's firm Third Point owns a fair share of Sony stock, giving him some influence over what Sony does.

Posted in
| Read more

Report: Activision Blizzard Interested in Buying Back Some of Vivendi's Holdings in Company

May 15, 2013 -

Activision Blizzard majority stakeholder Vivendi is still interested in selling off the 61.2 percent it owns in the company but according to the Wall Street Journal, Activision Blizzard would like to buy back some of it. The WSJ reports that Activision Blizzard management is interested in using some of the cash reserves it has managed to stockpile to buy back at least some of what Vivendi owns. This is probably a good idea since Vivendi has been looking to offload its stake in the company since last year.

| Read more

Billionaire Hedge Fund Manager Encourages Sony to Spin Off Entertainment, Sell Insurance Divisions

May 14, 2013 -

An interesting story in the New York Times (as unearthed by Develop) reveals that a hedge fund manager that controls billions in investment in Sony has suggested that the company break up parts of the company.

Posted in
1 comment | Read more

Report: TimeGate Lays Off Entire Staff

May 9, 2013 -

According to this Kotaku report citing two unnamed sources with knowledge of the situation, TimeGate Studios has laid off its entire staff. The developer behind Section 8 and the co-developer of Aliens: Colonial Marines sent everyone home early today according to the sources.

| Read more

TimeGate Studios Files for Bankruptcy Protection

May 2, 2013 -

Aliens: Colonial Marines co-developer and Section 8 developer TimeGate Studios has filed for Chapter 11 bankruptcy protection in Texas Southern Bankruptcy Court, according to court documents obtained by Polygon.

| Read more

More Than 10 Million Copies of Minecraft - Pocket Edition Sold To-Date

May 2, 2013 -

Minecraft developer Mojang announced that Minecraft - Pocket Edition for Android and iOS devices, has sold more than 10 million copies to-date. The portable version of Mojang's popular sandbox building game joins other versions of the game - PC and XBLA which have sold millions upon millions of copies to-date. It just goes to show that people never get tired of a game that is decent and is constantly updated by its creators.

"We are very thankful to all the support that we have gotten and people playing and talking about our game," said Mojang's Daniel Kaplan.

| Read more

Sony Executives to Give Back Bonuses for Second Year in a Row

May 2, 2013 -

According to this Bloomberg report Sony executives have agreed to forgo salary bonuses for the second year in a row following another year of less than stellar profits from the electronics giant. According to a Sony spokesperson (speaking to Bloomberg), around 40 of the company's executives will return bonuses scheduled to be paid out following a general shareholders meeting this June.

| Read more

T-Mobile Completes Acquisition of MetroPCS

May 1, 2013 -

The Associated Press is reporting that the country's fourth largest mobile carrier T-Mobile USA has completed the acquisition of rival mobile phone carrier MetroPCS. T-Mobile will add the company's estimated 9 million customers to its own 34 million users. While T-Mobile has no plans to make any immediate changes, the company does plan on shutting down MetroPCS’s network over the next two years.

| Read more

Bobby Kotick: The $65 Million Dollar Man

April 29, 2013 -

Update: A representative for Activision points out that Bloomberg has updated its original story, and that because Activision is a public company it has to account for compensation in the year it is granted, even though the amount of performance-based compensation Kotick would receive under the new agreement he signed in 2012 would be vested over a five year period. Here's the update from the Bloomberg story we sourced:

| Read more

EA Acknowledges Layoffs in Statement, Avoids Numbers

April 25, 2013 -

Electronic Arts released a short statement today confirming that layoffs are happening across the company on a worldwide basis, but did not give any specific details on any of its decisions in the last month:

4 comments | Read more

Report: German Browser Game Operator Travian Lays Off 60 Employees

April 24, 2013 -

German browser games operator Travian has laid off up to 60 employees due to "internal restructuring," according to a GamesIndustry International report - as reported by its German sister site. Multiple sources have confirmed the move with GII's German reporter during the Quo Vadis event, which is taking place this week in Berlin.

| Read more

Satoru Iwata to Absorb Nintendo of America CEO Role

April 24, 2013 -

With the current chairman of Nintendo of America, Tatsumi Kimishima, set to move over to his new position as managing director of Nintendo Co. Ltd. - assuming shareholders approve the move (which they likely will), Nintendo wants to move its global president Satoru Iwata into the role. More specifically he will absorb Kimishima's current responsibilities as the CEO of Nintendo of America. Nintendo of America president and COO, Reggie Fils-Aime isn't going anywhere, and will remain in his current positions, reporting directly to Iwata.

Posted in
1 comment | Read more

Nintendo Records Fiscal Year Loss

April 24, 2013 -

Nintendo released its earnings report for the fiscal year ending March 31, 2013, revealing that it had taken a loss much like it did in the last fiscal year. Nintendo recorded a 36.4 billion yen operating loss ($366 million) for the fiscal year, with less than expected sales of the Wii U continue to have a "negative impact on Nintendo's profits." Thanks to a depreciation of the yen, Nintendo's net income was 7 billion yen ($71 million). Net sales for the year were forecast at 635.4 billion yen ($6.38 billion), down from the year before.

| Read more

Microsoft: Xbox Live Subscriptions Hit 48 Million

April 19, 2013 -

During its Q3 earnings report, Microsoft announced that Xbox live subscriptions have reached 46 million worldwide - an 18 percent increase from last year - and that it has sold 1.3 million consoles over the past three months - down nine percent from the same period a year ago. Microsoft's Entertainment and Devices Division revenues rose 56 percent to $253 million despite the drop in console sales.

1 comment | Read more

Capcom Revises FY Forecast Due to 'Special Loss' from Game Cancelations

April 18, 2013 -

Capcom is blaming development projects overseas for a revised financial forecast that takes into account a special loss due to game cancellations. The company said today that it will take a $73 million hit from cancelling various projects. The company also said that it will be making more of its games in-house due to a "drop in quality" from outsourcing projects to Western studios...

2 comments | Read more

IBM Executives to Lobby Hard for CISPA

April 15, 2013 -

According to The Hill, IBM - as a strong supporter of the Cyber Intelligence Sharing and Protection Act (CISPA) - will send over 100 executives to Washington D.C. to hold nearly 300 meetings with lawmakers over a two-day period.

"We’re going to put our shoe leather where our mouth is," Chris Padilla, vice president of governmental affairs at IBM, told The Hill.

2 comments | Read more

Zynga CEO Takes $1 Salary for 2013

April 5, 2013 -

Zynga CEO Mark Pincus will take a salary of just $1 in 2013, according to Inside Social Games. We're not sure if this move by the social game giant's CEO is a publicity stunt to garner good will or not, but it's certainly a bold move by Pincus.

| Read more

SCE Consolidates Operations in Asia

April 1, 2013 -

Sony Computer Entertainment Japan and Sony Computer Entertainment Asia have been consolidated into one business unit operating within Sony, according to this press release - as uncovered by Kotaku. The combined operation will now be called Sony Computer Entertainment Japan Asia.

| Read more

The Foundry Group Invests in New Harmonix IP

March 27, 2013 -

Harmonix has secured funding for three of its upcoming products from Colorado-based capital venture firm The Foundry Group, according to Polygon. The firm generally invests in companies that are in the business of "human computer interaction," and its last high profile investment land at Zynga.

| Read more

Puzzle & Dragons GungHo Acquired by SoftBank

March 26, 2013 -

In late January we reported that GungHo Group had acquired Suda 51's studio Grasshopper Manufacture. In late February the Japanese mobile publisher revealed staggering sales figures: it reported it had generated around $65 million during January - or about $2 million dollars a day - from a single game: Puzzle & Dragons.

Posted in
| Read more

Sony Unloads Stake in DeNa for $438 Million

March 4, 2013 -

Sony has decided to unload its holdings in mobile game developer and publisher DeNa, according to this Reuters report. Sony has reportedly sold all of its shares in the company to Japanese-based investment firm Nomura Securities for $438 million.

| Read more

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
Matthew WilsonSF have to build upwards they have natural growth limits. they can not grow outwards. ps growing outwards is terable just look at Orlando or Austin for that.04/16/2014 - 4:15pm
ZippyDSMleeIf they built upward then it would becoem like every other place making it worthless, if they don't build upward they will price people out making it worthless, what they need to do is a mix of things not just one exstreme or another.04/16/2014 - 4:00pm
Matthew Wilsonyou know the problem in SF was not the free market going wrong right? it was government distortion. by not allowing tall buildings to be build they limited supply. that is not free market.04/16/2014 - 3:48pm
ZippyDSMleeOh gaaa the free market is a lie as its currently leading them to no one living there becuse they can not afford it makign it worthless.04/16/2014 - 3:24pm
Matthew WilsonIf you have not read http://arstechnica.com/gaming/2014/04/introducing-steam-gauge-ars-reveals-steams-most-popular-games/ you should. It is a bit stats heavy, but worth the read.04/16/2014 - 2:04pm
Matthew Wilsonthe issue is when is doesn't work it can screw over millions in new york city's case. more often than not it is better to let the free market run its course without market distortion.04/16/2014 - 9:36am
NeenekoTrue, and overdone stagnation is a problem. It is a tricky balance. It does not help that when it does work, no one notices. Most people here have benifited from rent controls and not even realized it.04/16/2014 - 9:23am
ZippyDSMleehttp://www.afterdawn.com/news/article.cfm/2014/04/15/riaa_files_civil_suit_against_megaupload04/16/2014 - 8:48am
ZippyDSMleeEither way you get stagnation as people can not afford the prices they set.04/16/2014 - 8:47am
Neenekowell, specifically it helps people already living there and hurts people who want to live there instead. As for 'way more hurt', majorities generally need less legal protection. yes it hurt more people then it helped, it was written for a minority04/16/2014 - 8:30am
MaskedPixelantehttp://torrentfreak.com/square-enix-drm-boosts-profits-and-its-here-to-stay-140415/ Square proves how incredibly out of touch they are by saying that DRM is the way of the future, and is here to stay.04/16/2014 - 8:29am
james_fudgeUnwinnable Weekly Telethon playing Metal Gear http://www.twitch.tv/rainydayletsplay04/16/2014 - 8:06am
ConsterTo be fair, there's so little left of the middle class that those numbers are skewing.04/16/2014 - 7:42am
Matthew Wilsonyes it help a sub section of the poor, but hurt both the middle and upper class. in the end way more people were hurt than helped. also, it hurt most poor people as well.04/16/2014 - 12:13am
SeanBJust goes to show what I have said for years. Your ability to have sex does not qualify you for parenthood.04/15/2014 - 9:21pm
NeenekoSo "worked" vs "failed" really comes down to who you think is more important and deserving04/15/2014 - 7:04pm
NeenekoThough I am also not sure we can say NYC failed. Rent control helped the people it was intended for and is considered a failure by the people it was designed to protect them from.04/15/2014 - 7:04pm
NeenekoIf they change the rules, demand will plummet. Though yeah, rent control probably would not help much in the SF case. I doubt anything will.04/15/2014 - 1:35pm
TheSmokeyOnline gamer accused of murdering son to keep playing - http://cnews.canoe.ca/CNEWS/Crime/2014/04/15/21604921.html04/15/2014 - 11:50am
Matthew Wilsonyup, but curent city rules do not allow for that.04/15/2014 - 11:00am
 

Be Heard - Contact Your Politician