Joystiq http://www.joystiq.com Joystiq http://www.blogsmithmedia.com/http://www.joystiq.com/media/feedlogo.gif Joystiq http://www.joystiq.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Report: HMV to be saved as restructurer Hilco acquires debt]]>http://www.joystiq.com/2013/01/22/report-hmv-to-be-saved-as-restructurer-hilco-acquires-debt/http://www.joystiq.com/2013/01/22/report-hmv-to-be-saved-as-restructurer-hilco-acquires-debt/http://www.joystiq.com/2013/01/22/report-hmv-to-be-saved-as-restructurer-hilco-acquires-debt/#comments Business restructuring company Hilco is set to acquire HMV after reportedly taking control of the struggling British retailer's debt . According to the Financial Times, people familiar with the situation report Hilco took on the debt today, estimated three months ago to be around $279 million. If the reports are accurate, Hilco, already appointed yesterday as advisors to administrators Deloitte, have effective control of the ailing company.

HMV went into administration last week after failing to secure $483 million in additional financing against debt, leaving the company in need of a buyer, with around 4350 jobs in the balance. HMV's troubles headline a sorry month for British game retail after Play.com announced the closure of its retail arm, and Blockbuster UK also went bust, with 160 of its stores being closed as it too seeks a buyer.

JoystiqReport: HMV to be saved as restructurer Hilco acquires debt originally appeared on Joystiq on Tue, 22 Jan 2013 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>administrationbankruptcybuyouthilcohmvlayoffsukTue, 22 Jan 2013 09:30:00 EST<![CDATA[Disney acquires Lucasfilm for $4.05 billion, LucasArts included]]>http://www.joystiq.com/2012/10/30/disney-acquires-lucasfilm-for-4-05-billion-lucasarts-included/http://www.joystiq.com/2012/10/30/disney-acquires-lucasfilm-for-4-05-billion-lucasarts-included/http://www.joystiq.com/2012/10/30/disney-acquires-lucasfilm-for-4-05-billion-lucasarts-included/#comments Disney acquires Lucasfilm for $405 billion, LucasArts includedDisney has just announced its purchase of Lucasfilm Limited, the umbrella corporation responsible for all things Star Wars, Indiana Jones and pretty much anything else George Lucas has ever had his hand in. The purchase will set ol' Walt back $4.05 billion.

Industrial Light & Magic, Skywalker Sound and LucasArts are all included in the purchase price, meaning that Disney has not only found a way to profit from the production of movies that it isn't making, but also how to get Jar-Jar Binks into a Kingdom Hearts game.

The company also announced that Star Wars 7 exists and is aiming for a 2015 release date, which makes this the most insane thing ever. Lucasfilm co-chairman Kathleen Kennedy will become president of Lucasfilm under Disney, and will also act as executive producer on "new Star Wars feature films, with George Lucas serving as creative consultant."

JoystiqDisney acquires Lucasfilm for $4.05 billion, LucasArts included originally appeared on Joystiq on Tue, 30 Oct 2012 16:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionbuyoutDisneygeorge-lucasindiana-jonesIndustrial-light-and-magickingdom-heartsLucasArtsLucasfilmpurchaseskywalker-soundstar-warsstar-wars-7Tue, 30 Oct 2012 16:31:00 EST<![CDATA[Lauder's purchase of OnLive totaled just $4.8 million]]>http://www.joystiq.com/2012/10/10/lauders-purchase-of-onlive-totaled-just-4-8-million/http://www.joystiq.com/2012/10/10/lauders-purchase-of-onlive-totaled-just-4-8-million/http://www.joystiq.com/2012/10/10/lauders-purchase-of-onlive-totaled-just-4-8-million/#comments When venture capitalist group Lauder Partners, LLC purchased and reformed OnLive back in August, it did so for $4.8 million, according to a letter to OnLive's creditors obtained by Polygon and the San Jose Mercury News. The company's blue-light special asking price was due in part to its $18.7 million in debt, in addition to the fact that the last of its available cash had already been allocated to fulfill payroll obligations.

Granted, $4.8 million is still more money than we'll ever see in our entire lives, but it seems a bit paltry when compared with Sony's $380 million acquisition of Gaikai. Under the circumstances, however, this was as good as it was going to get for OnLive.

"Had the sale to the buyer not taken place, the assignee would have been left with inadequate capital to fund the significant costs to preserve and market OnLive's patents and other intellectual property, thus greatly reducing expected recoveries essentially to those of a forced piecemeal auction," says Insolvency Services Group CEO Joel Weinberg in the letter to OnLive's creditors.

OnLive's creditors will receive around $0.26 for every dollar originally owed, according to the letter.

JoystiqLauder's purchase of OnLive totaled just $4.8 million originally appeared on Joystiq on Wed, 10 Oct 2012 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionbuyoutlauderlauder-partnersonlivepurchasepurchase-priceWed, 10 Oct 2012 15:00:00 EST<![CDATA[NYT: EA tried to buy Valve]]>http://www.joystiq.com/2012/09/10/nyt-ea-tried-to-buy-valve/http://www.joystiq.com/2012/09/10/nyt-ea-tried-to-buy-valve/http://www.joystiq.com/2012/09/10/nyt-ea-tried-to-buy-valve/#comments Report EA tried to buy ValveEA has tried "over the years" to buy out Valve, the New York Times reports. These talks, had they ever reached negotiation, would have valued Valve at "well over $1 billion," NYT says, which is most likely a ridiculous understatement.

Valve is a private company controlled by founder Gabe Newell, who doesn't release any of its financials, but Wedbush Securities analyst Michael Pachter estimates Valve is worth $2.5 billion today.

Newell says it's likely Valve's employees would scatter and the company would "disintegrate" before it would be sold.

"It's way more likely we would head in that direction than say, 'Let's find some giant company that wants to cash us out and wait two or three years to have our employment agreements terminate,'" Newell says.

JoystiqNYT: EA tried to buy Valve originally appeared on Joystiq on Mon, 10 Sep 2012 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buy-outbuyoutEAElectronic-ArtsmacNew-York-TimesnytpcSTEAMvalveMon, 10 Sep 2012 18:00:00 EST<![CDATA[Nexon bids for EA takeover, everyone says it's very unlikely]]>http://www.joystiq.com/2012/04/26/nexon-bids-for-ea-takeover-everyone-says-its-very-unlikely/http://www.joystiq.com/2012/04/26/nexon-bids-for-ea-takeover-everyone-says-its-very-unlikely/http://www.joystiq.com/2012/04/26/nexon-bids-for-ea-takeover-everyone-says-its-very-unlikely/#comments ImageYou know Nexon, right? The South Korean MMO company that made Maple Story and ... uh ... Everplanet ... and stuff? Anyway, Nexon is a pretty big deal on the other side of the Pacific Ocean. Such a big deal, in fact, that it's looking at buying out some of its rivals, apparently including EA. MK Business News (a South Korean newspaper) reports that Nexon's Japanese headquarters spoke with EA about a potential acquisition recently.

What came of those talks, however, is unclear. For its part, EA isn't offering any news. "We don't comment on rumors and speculation," is all reps told us, which you'll notice isn't a denial of said talks taking place.

But could such a deal even take place? Experts don't seem to think so. "My takeaway is that this deal cannot happen," Wedbush Securities analyst Michael Pachter told GI International. "There are few, if any synergies, and no reason to believe that Nexon could run EA's assets more efficiently. Nexon shareholders would own a completely different company than what they bought in the December IPO," he added, referring to Nexon's late 2011 public stock offering.

So for now, while the talk of an EA takeover is always scintillating to discuss, it's very likely not happening (at least via Nexon) anytime soon.

JoystiqNexon bids for EA takeover, everyone says it's very unlikely originally appeared on Joystiq on Thu, 26 Apr 2012 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buyouteaelectronic-artsmichael-pachternexontakeoverwedbush-securitiesThu, 26 Apr 2012 15:40:00 EST<![CDATA[Report: Bizarre Creations staff morale boosted by buyer talks]]>http://www.joystiq.com/2010/11/17/report-bizarre-creations-staff-morale-boosted-by-buyer-talks/http://www.joystiq.com/2010/11/17/report-bizarre-creations-staff-morale-boosted-by-buyer-talks/http://www.joystiq.com/2010/11/17/report-bizarre-creations-staff-morale-boosted-by-buyer-talks/#comments Develop reports that anonymous staffers at recently put-on-the-market development studio Bizarre Creations have claimed that morale around the offices has received a boost following a company meeting earlier today. According to Develop's sources, that meeting brought word that a number of interested parties have surfaced who could possibly acquire Bizarre -- though the source didn't name any of those parties, for fear of scaring them away. See, big corporations? They're like baby deer when it comes to acquisitions.

One of Develop's sources mentioned Microsoft as one of Bizarre's potential suitors. That might not be the smoothest transition, considering some of the harsh words Bizarre's higher-ups have said about their former relationship. You know whose loving arms we think they should run back to? 1996-era Psygnosis. Now, that there? That was a match made in heaven.

JoystiqReport: Bizarre Creations staff morale boosted by buyer talks originally appeared on Joystiq on Wed, 17 Nov 2010 14:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionactivisionBizarre-CreationsbuyoutmicrosoftreportxboxWed, 17 Nov 2010 14:01:00 EST<![CDATA[Pachter: First Activision-Bungie game 'well along' in development, will sell at least 10 million units]]>http://www.joystiq.com/2010/04/29/pachter-first-activision-bungie-game-well-along-in-developmen/http://www.joystiq.com/2010/04/29/pachter-first-activision-bungie-game-well-along-in-developmen/http://www.joystiq.com/2010/04/29/pachter-first-activision-bungie-game-well-along-in-developmen/#comments Though firm details about the terms of the Activision-Bungie partnership are still awfully slim, industry analyst extraordinaire Michael Pachter has given his two cents to Gamasutra about the financial potential of the merger, which should result in Activision earning a great deal more than two cents.

First, Pachter suggests this is a publishing partnership instead of a mere distribution agreement, which will increase Activision's profit margins from around 10 percent to anywhere between 15 and 20 percent on all of Bungie's titles. He estimates that, should the developer's future titles be as popular as its Halo franchise (which typically sold 10 million units a piece), they could sell as many as 15 million units by virtue of Bungie's new multiplatform ambitions. According to his calculations, Activision stands to make $65 million off the first successful Bungie title should it match the success of the Halo series.

The time to test Pachter's calculations might be closer than you'd think -- he reports that the first Bungivision product, which is set in an "action game universe," is "well along in its development." We're not sure how "well along" said title actually is, but we'll keep our ears perked up for an announcement at E3. An announcement for Guitar Halo. There, we said it, alright? We were all thinking it, and now it's out there.

JoystiqPachter: First Activision-Bungie game 'well along' in development, will sell at least 10 million units originally appeared on Joystiq on Thu, 29 Apr 2010 10:19:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>activisionanalystbungiebungivisionbuyouthalomichael-pachterMicrosoftpachterpartnershipXbox-360Thu, 29 Apr 2010 10:19:00 EST<![CDATA[Rumor: GameStop being eyed for purchase by private equity group]]>http://www.joystiq.com/2010/03/17/rumor-gamestop-being-eyed-for-purchase-by-private-equity-group/http://www.joystiq.com/2010/03/17/rumor-gamestop-being-eyed-for-purchase-by-private-equity-group/http://www.joystiq.com/2010/03/17/rumor-gamestop-being-eyed-for-purchase-by-private-equity-group/#comments GameStop might be worth roughly $3.27 billion, but if reports are correct, a group of folks at a private equity firm may be considering an offer of $4.94 billion (a 33 percent raise over the current, rumor-inflated stock prices) to acquire the publicly held game retailer. The Street is reporting that the rumors of a buyout have already raised stock prices by nearly six percent to $19.86 per share since just five days ago, as of this afternoon.

And those rumors could be seen as partially substantiated by the company's lackluster performance on Wall Street as a publicly held company. Sterne, Agee & Leech analyst Arvind Bhatia told The Street, "The company generates strong free cash flow and is not getting respect as a public company." A buyout of GameStop by a private equity firm could mean moving the company's public status to private, not to mention a possible management shakeup (among other things). We asked GameStop corporate for comment and were told, "We do not comment on speculation or rumor," so for now we'll just have to wait and see what shakes out.

JoystiqRumor: GameStop being eyed for purchase by private equity group originally appeared on Joystiq on Wed, 17 Mar 2010 19:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>arvind-bhatiabuyoutfinancialgamestopprivate-equityrumorsterne-agee-leechstockWed, 17 Mar 2010 19:30:00 EST<![CDATA[EA acquires social network game dev Playfish for $300 million]]>http://www.joystiq.com/2009/11/09/ea-acquires-social-network-game-dev-playfish-for-300-million/http://www.joystiq.com/2009/11/09/ea-acquires-social-network-game-dev-playfish-for-300-million/http://www.joystiq.com/2009/11/09/ea-acquires-social-network-game-dev-playfish-for-300-million/#comments As a number of "industry sources" reported last month, Electronic Arts has elected to add a new studio to its already expansive roster: Playfish, a prolific developer of free-to-play casual games on social networking sites like Facebook. The studio was bought out for about $275 million with an additional $25 million set aside for equity retention arrangements. Playfish is also set to receive another $100 million, should it manage to reach unspecified "performance milestones" before 2012.

Not only is that sum of money much higher than the $250 million total teased by the aforementioned analysts in October, it's ... well, it just seems like a lot of money to spend on a studio which actually developed a game called Bowling Buddies. However, considering Playfish's ten titles register 60 million active users and one billion play sessions every month, we suppose EA's making a sound investment. The times, dear friends -- they are a-changin'.

JoystiqEA acquires social network game dev Playfish for $300 million originally appeared on Joystiq on Mon, 09 Nov 2009 11:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquisitionbuyoutcasualEAElectronic-Artsfacebookplayfishsocial-networkingMon, 09 Nov 2009 11:30:00 EST<![CDATA[THQ takeover talk causes stock bump]]>http://www.joystiq.com/2009/09/23/thq-takeover-talk-causes-stock-bump/http://www.joystiq.com/2009/09/23/thq-takeover-talk-causes-stock-bump/http://www.joystiq.com/2009/09/23/thq-takeover-talk-causes-stock-bump/#comments THQ's stock jumped up a solid 13 percent yesterday over whispers that the publisher is in a takeover company's line of sight. Optimism has recently surrounded the once fumbling publisher, as it pulled off a couple retail successes and has put on a good show with some surprisingly frank talk about its future.

However, as much as investors believe a buyout is in the works, Reuters spoke with an analyst who isn't so sure. MKM Partners analyst Eric Handler says rumors of a THQ buyout crop up almost every quarter. He believes THQ still has too many licensed games and is just starting to build a solid foundation of owned intellectual property.

Yeah, well ... we talked to an analyst, too. Wedbush Morgan's Michael Pachter tells us he doesn't believe a buyout is likely either. He concurs, "THQ is heavy on licensed content, and many licenses potentially terminate on change of control. I don't see their recent performance instilling a lot of confidence in their ability to manage a bigger library of content that would be presented in a media buyout." Hmmm, from where are investors getting this buyout notion then?

JoystiqTHQ takeover talk causes stock bump originally appeared on Joystiq on Wed, 23 Sep 2009 11:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyoutmichael-pachterstocktakeoverthqWed, 23 Sep 2009 11:29:00 EST<![CDATA[Gamecock acquisition goes south - vendors accuse SouthPeak of not paying up]]>http://www.joystiq.com/2009/08/14/gamecock-acquisition-goes-south-vendors-accuse-southpeak-of-no/http://www.joystiq.com/2009/08/14/gamecock-acquisition-goes-south-vendors-accuse-southpeak-of-no/http://www.joystiq.com/2009/08/14/gamecock-acquisition-goes-south-vendors-accuse-southpeak-of-no/#comments
Created by industry entrepreneurs Mike Wilson, Rick Stults and Harry Miller, the Gamecock Media Group set out to buck-buck-buck the trend -- a perceived sequence of retreads, rehashes and remakes that characterized a rapidly expanding games industry. The games were undoubtedly indie, the choices bizarre and the rooster costumes touted by Wilson and the gang were just plain weird. But not nearly as weird as the David vs. Goliath scenario that ended with the lowly rock slinger shaking hands with his imposing foe.

But in October of 2008, SouthPeak Interactive Corporation stepped out of the role of opposition, instead donning the chivalrous and sharply dressed persona of corporate savior. A shaky economy had compelled Gamecock's main investor to tighten the belt, an act which former Gamecock CEO (and subsequent co-founder of Devolver Digital) Mike Wilson deemed a swift and unexpected crisis. "He and his board decided that with their main business bleeding so badly, they needed to cut off anything 'ancillary'," Wilson said, "such as his investment in outside businesses, one of which was our company." With the timing sitting uncomfortably close to the Christmas rush and promising titles like Legendary and Mushroom Men on the verge of completion, Gamecock needed help.

"And suddenly there was NO money. So, we literally had to find someone to acquire us immediately ... someone who knew the business, could see the imminent revenues versus liabilities, and move very fast." And for a Goliath, SouthPeak was pretty fast. "A week later, we were bought, and all we could do was put on a happy face and hope for the best."

Continue reading Gamecock acquisition goes south - vendors accuse SouthPeak of not paying up

JoystiqGamecock acquisition goes south - vendors accuse SouthPeak of not paying up originally appeared on Joystiq on Fri, 14 Aug 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionbuyoutGamecockGamecock-Media-Groupmike-wilsonSouthPeakSouthPeak-InteractiveFri, 14 Aug 2009 16:00:00 EST<![CDATA[Rumor: Warner Bros. wants Codemasters]]>http://www.joystiq.com/2009/06/23/rumor-warner-bros-wants-codemasters/http://www.joystiq.com/2009/06/23/rumor-warner-bros-wants-codemasters/http://www.joystiq.com/2009/06/23/rumor-warner-bros-wants-codemasters/#comments
It appears that Codemasters could become a paid-for adopted sibling in the Warner Bros. Interactive family, if a VG247 article is to be believed. Meanwhile, a follow-up report by GI.biz indicates that a Codemasters rep declined to comment, saying, "Everything is fine here." Indeed!

In some ways, we're surprised it took this long for the story to drop. After all, at this year's E3 all of Codemasters' titles were shown at the Warner Bros. booth. We've yet to hear back from Codemasters, but WBIE was kind enough to inform us that it doesn't "comment on rumors or speculation." Shame, really. We were hoping to hear "everything is fine" there too. If true, Warner Bros. is on the acquisition warpath, which it hasn't been shy about. The company currently has a $33 million bid out for Midway. Hey WBIE, what do you know about Joystiq Publishing ...

JoystiqRumor: Warner Bros. wants Codemasters originally appeared on Joystiq on Tue, 23 Jun 2009 23:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionbusinessbuyoutcodemasterspurchaserumorwarner-brosTue, 23 Jun 2009 23:59:00 EST<![CDATA[Square Enix and Eidos dropping Warner Bros. publishing]]>http://www.joystiq.com/2009/06/01/square-enix-and-eidos-dropping-warner-bros-publishing/http://www.joystiq.com/2009/06/01/square-enix-and-eidos-dropping-warner-bros-publishing/http://www.joystiq.com/2009/06/01/square-enix-and-eidos-dropping-warner-bros-publishing/#comments Although the ink has dried on Square Enix's buyout of Eidos last month, there still remains a few issues to iron out before the handover is complete. One of these issues is the publishing rights of currently scheduled titles. Batman: Arkham Asylum and Mini Ninjas were originally under Warner Bros. Interactive before the takeover and will continue to go under that name; however, all future titles will return in-house.

Kane & Lynch 2 and Just Cause 2 can be counted among those titles donning the Square Enix logos, though thankfully the influence stops there as Eidos will continue to run as an independent company. Don't worry, Kane & Lynch will be androgyny-free.

JoystiqSquare Enix and Eidos dropping Warner Bros. publishing originally appeared on Joystiq on Mon, 01 Jun 2009 16:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteidosindustrypublishingsquare-enixwarner-brosMon, 01 Jun 2009 16:10:00 EST<![CDATA[Warner Bros. bids on Midway for some reason]]>http://www.joystiq.com/2009/05/21/warner-bros-bids-on-midway-for-some-reason/http://www.joystiq.com/2009/05/21/warner-bros-bids-on-midway-for-some-reason/http://www.joystiq.com/2009/05/21/warner-bros-bids-on-midway-for-some-reason/#commentsWhen we read about Midway's recent troubles, we're glad we don't own any piece of the company. However, Warner Bros. executives see the same stories and think "we need that." Midway announced today that a "stalking horse" asset purchase agreement with Warner Bros. has commenced, with Warner bidding $33 million for the majority of Midway's assets, including studios in Chicago and Seattle, as well as the Mortal Kombat franchise.

According to Midway's press release, the agreement does not include rights to TNA wrestling games, nor Midway's San Diego and Newcastle studios.

This isn't a sure thing yet: before the Warner agreement goes through, other "qualified buyers" will be allowed to put in bids in a "court-supervised auction process."

JoystiqWarner Bros. bids on Midway for some reason originally appeared on Joystiq on Thu, 21 May 2009 13:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessbuyoutindustrymidwaywarner-brosThu, 21 May 2009 13:30:00 EST<![CDATA[Rumor: Warner Bros. hooked on Midway bait]]>http://www.joystiq.com/2009/04/24/rumor-warner-bros-hooked-on-midway-bait/http://www.joystiq.com/2009/04/24/rumor-warner-bros-hooked-on-midway-bait/http://www.joystiq.com/2009/04/24/rumor-warner-bros-hooked-on-midway-bait/#comments Just a week after casting itself into uncertain waters, Midway has reportedly gotten a bite -- er, been bitten by Warner Bros. Interactive. Now comes the hard part: reeling in the deal. After losing Eidos to Square Enix, Warner's got a grumbling in its tummy for cheap chow, and for a proposed $30 million, Midway is a relatively inexpensive meal for the big fish to swallow. Still, much of Midway is simply indigestible.

An anonymous source tells MCV, "Warner is pretty confident that they will get Midway ... They look ready to put the money on the table." Whether that money is the full $30 million or just a portion of the asking price (for specific IPs like Mortal Kombat, etc.) is allegedly keeping the deal on the line. Will it snap? Oh, the suspense!

JoystiqRumor: Warner Bros. hooked on Midway bait originally appeared on Joystiq on Fri, 24 Apr 2009 18:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyoutdeadliest-catchmidwaymortal-kombatrumorwarner-broswarner-bros-interactiveFri, 24 Apr 2009 18:40:00 EST<![CDATA[Square Enix buyout of Eidos approved]]>http://www.joystiq.com/2009/03/27/square-enix-buyout-of-eidos-approved/http://www.joystiq.com/2009/03/27/square-enix-buyout-of-eidos-approved/http://www.joystiq.com/2009/03/27/square-enix-buyout-of-eidos-approved/#comments
The Square Enix purchase of Eidos will go through, as 85% of the Eidos shareholders voted in favor (big surprise there) of their new overlords at a recent court hearing and passed the motion of acquisition at the EGM afterward. It is estimated that Square Enix will take over operating duties some time in late April, when it's assumed all of Eidos' shares will be delisted.

We imagine Square Enix's first order of business will be to start work on Final Fantasy X3: Lara's Shadow, in which Yuna, Rikku, and Lara work together to solve a mystery surrounding a sunken ship. Also, they try to find Tidus again.

JoystiqSquare Enix buyout of Eidos approved originally appeared on Joystiq on Fri, 27 Mar 2009 13:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessbuyouteidoshitmansquare-enixtomb-raiderFri, 27 Mar 2009 13:00:00 EST<![CDATA[Bases still loaded: Jaleco isn't dead]]>http://www.joystiq.com/2009/03/25/bases-still-loaded-jaleco-isnt-dead/http://www.joystiq.com/2009/03/25/bases-still-loaded-jaleco-isnt-dead/http://www.joystiq.com/2009/03/25/bases-still-loaded-jaleco-isnt-dead/#commentsJaleco hasn't left the game industry following its buyout by Game Yarou. In fact, it's going to be business as usual at the Jaleco offices, with the only difference being that hopefully there will be some business.

Gamasutra reports that under Game Yarou's ownership, Jaleco Limited will continue normal operation, and "operate its Tokyo office independently of Game Yarou." The Wii action RPG Ougon no Kizuna (official site here) is still in production and scheduled for a May 28 release in Japan.

Since the press release announcing the buyout specifically mentioned reasons why Jaleco was leaving the game industry, we suspect that this was more a change in plans than a simple miscommunication.

JoystiqBases still loaded: Jaleco isn't dead originally appeared on Joystiq on Wed, 25 Mar 2009 23:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyoutgame-yaroujalecojaleco-holdingsWed, 25 Mar 2009 23:00:00 EST<![CDATA[Namco Bandai now owns 95% of D3 Publisher]]>http://www.joystiq.com/2009/03/18/namco-bandai-now-owns-95-of-d3-publisher/http://www.joystiq.com/2009/03/18/namco-bandai-now-owns-95-of-d3-publisher/http://www.joystiq.com/2009/03/18/namco-bandai-now-owns-95-of-d3-publisher/#comments
Namco Bandai has gobbled up 19,990 shares of D3 Publisher, giving them ownership of 95.02% of the company. Siliconera reports the house that Pacman built has purchased the majority of the company at a combined buyout value of 1,239,380,000 yen ($12.55 million). In mid February, Namco Bandai -- who at the time made deals with D3's board, resulting in a 70% ownership of the company -- announced plans to purchase the remaining 30% of D3 Publisher stock. The remaining shares were purchased at the originally announced offer of ¥62,000 (US$626) per share (which sounds crazy to us).

D3 Publisher owns the overseas rights to the Ben 10 franchise as well as the Vicious Engine, the back end that powered such PSP titles as Dead Head Fred and 300: March to Glory. D3 is also responsible for Dark Sector and the OneChanbara franchise. Can someone say "buyers remorse?"

JoystiqNamco Bandai now owns 95% of D3 Publisher originally appeared on Joystiq on Wed, 18 Mar 2009 01:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessbuyoutd3-publishernamco-bandaiWed, 18 Mar 2009 01:00:00 EST<![CDATA[Square Enix to buy out Eidos in May]]>http://www.joystiq.com/2009/03/04/square-enix-to-buyout-eidos-in-may/http://www.joystiq.com/2009/03/04/square-enix-to-buyout-eidos-in-may/http://www.joystiq.com/2009/03/04/square-enix-to-buyout-eidos-in-may/#commentsEidos and Square Enix have agreed upon terms for the proposed buyout of Eidos's share capital by the Japanese publisher. Eidos shareholders are "expected to approve the deal" later this month, according to MCV, which suggests that a growing number have seen the light (where "the light" means "Square Enix's books").

Bad news for those of you planning to buy Eidos stock for a friend as a birthday present next month: Eidos will suspend trading of its shares on April 21, with its listings to be taken down the next day, in anticipation of this deal. The companies are planning to have a settlement in place by May 6, at which point we assume Eidos staff will use the sudden windfall to upgrade their weapons and armor.

JoystiqSquare Enix to buy out Eidos in May originally appeared on Joystiq on Wed, 04 Mar 2009 12:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteidosindustrysquare-enixtakeoverWed, 04 Mar 2009 12:31:00 EST<![CDATA[Square Enix acquires more Eidos stock]]>http://www.joystiq.com/2009/02/24/square-enix-acquires-more-eidos-stock/http://www.joystiq.com/2009/02/24/square-enix-acquires-more-eidos-stock/http://www.joystiq.com/2009/02/24/square-enix-acquires-more-eidos-stock/#comments
Square Enix is working its way around Eidos' sphere grid of stock holders and leveling up for, what appears to be, its inevitable takeover of the British publisher. GI.biz reports that two major Eidos investors have sold 11.13 percent of the publisher's total stock to the Moogle master at 32 pence a share.

Using fancy business language, Square Enix claims it has "irrevocable undertaking" of 32 percent to vote in favor of the acquisition. That may be the "irrevocable" figure, but we learned Squenix previously had about 45 percent -- chances are, that number has gone up. It appears that Square Enix will finally get that Western developer it's been craving for a while.

JoystiqSquare Enix acquires more Eidos stock originally appeared on Joystiq on Tue, 24 Feb 2009 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>businessbuyouteidossquare-enixstocktakeoverTue, 24 Feb 2009 10:00:00 EST<![CDATA[Growing number of Eidos shareholders support Square Enix buyout]]>http://www.joystiq.com/2009/02/18/growing-number-of-eidos-shareholders-support-square-enix-buyout/http://www.joystiq.com/2009/02/18/growing-number-of-eidos-shareholders-support-square-enix-buyout/http://www.joystiq.com/2009/02/18/growing-number-of-eidos-shareholders-support-square-enix-buyout/#comments
The percentage keeps on growing as Eidos stockholders get in line to support a takeover by Square Enix. MCV reports that Pioneer Investment Management, a ten percent shareholder in the house of Hitman and Croft, is supporting the $120 million buyout.

Warner Bros., which controls 20 percent of the stock, has already agreed that a purchase by the powerhouse publisher of androgyny would be best for the ailing British company. Square Enix now has public approval from 45 percent of shareholder, and an Eidos vote on the acquisition will occur at the company board meeting in late March. Soon after, Agent 47 will prefer an over-sized sword to his Silverballers, and Lady Croft will wake up with a bad case of anime hair.

JoystiqGrowing number of Eidos shareholders support Square Enix buyout originally appeared on Joystiq on Wed, 18 Feb 2009 15:09:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteidossquare-enixwarner-brosWed, 18 Feb 2009 15:09:00 EST<![CDATA[Namco Bandai announces intent to purchase D3 Publisher]]>http://www.joystiq.com/2009/02/12/namco-bandai-announces-intent-to-purchase-d3-publisher/http://www.joystiq.com/2009/02/12/namco-bandai-announces-intent-to-purchase-d3-publisher/http://www.joystiq.com/2009/02/12/namco-bandai-announces-intent-to-purchase-d3-publisher/#comments It looks like even a crack squad of bikini-clad samurai won't be able to hold off an acquisition of D3 by fellow Japanese publisher Namco Bandai. That latter has revealed plans to effectively buy out D3 by purchasing all of its stock. Namco has already made deals with D3's board which have resulted in it obtaining a 70% stake in the company. It has offered to purchase the remaining 30% at a share price of ¥62,000 (US$686)

In a press release announcing the proposed buyout, Namco notes that D3 would benefit from Bandai's reach into other mediums (toys, TV, arcades, movies/music); the sharing of game engine technology; cooperative development of mobile titles; and the rights to use Namco-owned properties (characters, etc.) in its Simple series of budget games.

We'll let you know when -- and if -- D3 has tekken the offer.

[Via VG247]

Source - Bandai Namco plans D3 buyout [andriasang.com]
Source - Bandai Namco Q3 Management Plan [press release: PDF]

JoystiqNamco Bandai announces intent to purchase D3 Publisher originally appeared on Joystiq on Thu, 12 Feb 2009 15:18:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buyoutd3namco-bandaiThu, 12 Feb 2009 15:18:00 EST<![CDATA[Eidos in early buyout talks]]>http://www.joystiq.com/2009/01/15/eidos-in-early-buyout-talks/http://www.joystiq.com/2009/01/15/eidos-in-early-buyout-talks/http://www.joystiq.com/2009/01/15/eidos-in-early-buyout-talks/#commentsFiled under:


Even though she's more busted than a meth-addicted lady of the night, Eidos is ready to work the street corner again for some johns (we're guessing two brothers with the last name Warner). MCV acquired a statement from the publisher, indicating that the board has received a "preliminary approach" from a company, which "may or may not lead" to a buyout.

Although plenty of corporations with the means have pulled up to offer the troubled company a ride, Warner Bros. is the only one to invest and control 20% of the publisher. Further speculation pointed to Warner Bros. after Time Warner's CFO recently made comments about getting more involved in the games industry. We'll have to wait and see if it's Warner that tells Eidos it's OK to turn off the red light.

JoystiqEidos in early buyout talks originally appeared on Joystiq on Thu, 15 Jan 2009 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquisitionbuyouteidostime-warnerwarner-brosThu, 15 Jan 2009 16:30:00 EST<![CDATA[What does it cost to keep EA at bay?]]>http://www.joystiq.com/2008/12/24/what-does-it-cost-to-keep-ea-at-bay/http://www.joystiq.com/2008/12/24/what-does-it-cost-to-keep-ea-at-bay/http://www.joystiq.com/2008/12/24/what-does-it-cost-to-keep-ea-at-bay/#commentsFiled under:


In order to keep out of EA's portfolio Take-Two Interactive spent nearly $11.1 million, according to Security and Exchange Commission filings submitted by the Grand Theft Auto IV publisher. In a seven-month-long period Electronic Arts attempted to purchase Take-Two Interactive by way of initial offering and then by bidding directly to shareholders. After numerous delayed deadlines, Electronic Arts finally canceled its quest to purchase the company who owns such high-profile studios as 2K Boston, developers of BioShock. Gamespot reports that Take-Two incurred the costs during the "strategic review process" of the EA offer.

Today, Take-Two Interactive remains an independent company but shareholders are probably grinding their teeth about its current financial situation. At the height of buyout talks, EA was offering $25.74 per share but Take-Two rejected the offer, now the company currently trades at $8 per share ... but that probably has a lot to do with this whole economic crisis thing.

JoystiqWhat does it cost to keep EA at bay? originally appeared on Joystiq on Wed, 24 Dec 2008 17:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaelectronic-artstake-twotake-two-interactiveWed, 24 Dec 2008 17:45:00 EST<![CDATA[Take-Two spent $11 million preventing EA takeover]]>http://www.joystiq.com/2008/12/22/take-two-spent-11-million-against-ea-takeover/http://www.joystiq.com/2008/12/22/take-two-spent-11-million-against-ea-takeover/http://www.joystiq.com/2008/12/22/take-two-spent-11-million-against-ea-takeover/#commentsFiled under:


Security and Exchange Commission filings by Take-Two reveal the publisher spent $11.1 million to keep Electronic Arts at bay during its seven-month-long takeover attempt. Gamespot reports that Take-Two incurred the costs during the "strategic review process" of the EA offer.

For better or worse for investors, Take-Two won its battle against EA and remains independent. Although, investors can't be too happy to see the stock they could have gotten $25.74 for during the EA offer currently trading around $8 per share*.

*In fairness, game stocks in general are down. Apparently something to do with an economic crisis.

[Via GameDaily]

JoystiqTake-Two spent $11 million preventing EA takeover originally appeared on Joystiq on Mon, 22 Dec 2008 17:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaea-take-twoElectronic-Artstake-twotake-two-interactivetakeoverMon, 22 Dec 2008 17:20:00 EST<![CDATA[Ubisoft 'mad' MMO dev Cryptic went to Atari]]>http://www.joystiq.com/2008/12/11/ubisoft-mad-mmo-dev-cryptic-went-to-atari/http://www.joystiq.com/2008/12/11/ubisoft-mad-mmo-dev-cryptic-went-to-atari/http://www.joystiq.com/2008/12/11/ubisoft-mad-mmo-dev-cryptic-went-to-atari/#commentsFiled under: , ,

The buyout game, like any other, produces sore losers. In this case it's Ubisoft, who lost out to Atari in a bidding war for Champions Online and Star Trek Online developer Cryptic Studios.

Gamasutra quotes Ubi's CFO, Alain Martinez, as saying the company was "a bit mad [about]" losing the deal. "We were a bit disappointed," Martinez admitted, though he said Ubisoft is moving ahead with other planned acquisitions. "We have about three deals within [the] five million euro range that we are negotiating," he revealed, stating that, "Most probably, one or two of them will be closed in the next three or four months." One of those wouldn't happen to be Eidos, would it?

JoystiqUbisoft 'mad' MMO dev Cryptic went to Atari originally appeared on Joystiq on Thu, 11 Dec 2008 18:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ataribuyoutchampions-onlinecrypticcryptic-studiosjs-twitterMacPCstar-trek-onlineubisoftThu, 11 Dec 2008 18:27:00 EST<![CDATA[Square Enix proposes Tecmo buyout]]>http://www.joystiq.com/2008/08/29/square-enix-proposes-tecmo-buyout/http://www.joystiq.com/2008/08/29/square-enix-proposes-tecmo-buyout/http://www.joystiq.com/2008/08/29/square-enix-proposes-tecmo-buyout/#commentsFiled under:


It seems Dead Fantasy might just becomes a living reality after all. Square Enix has announced its intention to purchase a majority stake in Tecmo, the Japanese company which recently bid farewell to both its president and most recognizable rockstar developer. As detailed in a press release issued this morning (via IGN), the house that built Final Fantasy (and vice versa) is offering Tecmo shareholders a 30% premium over the company's closing price on August 28th. If successful, the deal would see Tecmo fall under Square Enix Holdings, while retaining its brand and corporate structure.

Yoichi Wada, president of Square Enix, expressed hope that both developers would benefit from the deal, with the RPG maker gaining some inspiration from Tecmo's expertise in the action genre. Presumably, the folks at Tecmo would gain some pointers on in-game cameras in return.

We'll let you know what happens as soon as the suits are done talking.

JoystiqSquare Enix proposes Tecmo buyout originally appeared on Joystiq on Fri, 29 Aug 2008 11:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BreakingNewsBuyoutFinal-FantasyNinja-GaidenSquare-EnixTeam-NinjaTecmoFri, 29 Aug 2008 11:30:00 EST<![CDATA[EA, Take-Two take buyout talks behind closed doors]]>http://www.joystiq.com/2008/08/26/ea-take-two-take-buyout-talks-behind-closed-doors/http://www.joystiq.com/2008/08/26/ea-take-two-take-buyout-talks-behind-closed-doors/http://www.joystiq.com/2008/08/26/ea-take-two-take-buyout-talks-behind-closed-doors/#commentsFiled under:


The ongoing drama of who's eating who between mega publishers Electronic Arts and Take-Two has finally been taken behind the curtain, where it should have been all along. After coming to some measure of understanding, the companies have jointly signed a confidentiality agreement, agreeing not to blab about what may or may not happen as a result of ongoing talks until, you know, something actually happens.

According to Reuters, EA has agreed as part of a regulatory filing with the SEC to not "make any further announcements regarding the status of any discussions or negotiations with Take-Two" until the pair come to some sort of mutual accord. We couldn't be happier, knowing that while the drama will likely continue to unfold for quite some time, at least we won't have to read (or write!) about it.

JoystiqEA, Take-Two take buyout talks behind closed doors originally appeared on Joystiq on Tue, 26 Aug 2008 08:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaelectronic-artselectronicartssecsecuritiesandexchangecommissiontake-overtake-twotakeovertaketwoTue, 26 Aug 2008 08:30:00 EST<![CDATA[FTC gives green-light for EA's Take-Two buyout]]>http://www.joystiq.com/2008/08/20/ftc-gives-green-light-for-eas-take-two-buyout/http://www.joystiq.com/2008/08/20/ftc-gives-green-light-for-eas-take-two-buyout/http://www.joystiq.com/2008/08/20/ftc-gives-green-light-for-eas-take-two-buyout/#commentsFiled under:


The Federal Trade Commission has stated that it will not oppose EA's pursuit of Take-Two Interactive. Following an investigation, the government agency concluded that no antitrust issue will occur, but left the door open to "take further action as the public interest may require."

This means all systems are go for EA and Take-Two to come to some sort of amicable agreement over how to bring the companies together. If that doesn't work, EA will probably just go back to throwing money on the table until Take-Two is ready admit she can't deny the sugar.

Source - Closing Letter to one EA attorney
Source - Closing Letter to one Take-Two attorney

[Via GamePolitics]

JoystiqFTC gives green-light for EA's Take-Two buyout originally appeared on Joystiq on Wed, 20 Aug 2008 14:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>breakingnewsbuyouteaElectronic-Artsfederal-trade-commissionftctake-twoWed, 20 Aug 2008 14:45:00 EST<![CDATA[EA deadline for Take-Two offer ends tonight]]>http://www.joystiq.com/2008/05/16/ea-deadline-for-take-two-offer-ends-tonight/http://www.joystiq.com/2008/05/16/ea-deadline-for-take-two-offer-ends-tonight/http://www.joystiq.com/2008/05/16/ea-deadline-for-take-two-offer-ends-tonight/#commentsFiled under:


Remember kids, EA's $25.74 per share deadline offer for Take-Two ends tonight at 11:59PM EDT. Originally offering $26 per share and a purchase price of $2 billion, EA had lowered its offer when Take-Two declined to sell in April. Currently trading closer to $27 a share, Take-Two Interactive has been in EA's sights for quite some time--so does anyone think this deadline will stop them from trying again?

EA says they want Take-Two, so are they really going to give up? What else could they do? Well, EA could always lower their offer to Take-Two again, just to scare them. It's like those old sitcoms where two people haggle over money and one gets progressively lower just to scare the other guy into submission. What we're saying is that EA is basically the gaming equivalent of Balki Bartokomous.

Some analysts think this whole thing will be hammered out over the weekend, but we'll have to wait and see.

JoystiqEA deadline for Take-Two offer ends tonight originally appeared on Joystiq on Fri, 16 May 2008 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>businessbuyouteatake-twoFri, 16 May 2008 14:00:00 EST<![CDATA[EA deadline to Take-Two shareholders ends tonight]]>http://www.joystiq.com/2008/05/16/ea-deadline-to-take-two-shareholders-ends-tonight/http://www.joystiq.com/2008/05/16/ea-deadline-to-take-two-shareholders-ends-tonight/http://www.joystiq.com/2008/05/16/ea-deadline-to-take-two-shareholders-ends-tonight/#commentsFiled under:


There are a little over 12 hours to go before EA's $25.74 per share deadline for Take-Two ends at 11:59PM EDT. Analyst Michael Pachter told Forbes (via GamePolitics) that EA started off too high with its $26 a share offering and should have started around $22 back then. Meanwhile, analyst Colin Sebastian tells the San Francisco Chronicle he believes the deal is going to get "hammered out," possibly at a higher price.

As of this writing, Take-Two's stock is trading around $27 per share, but EA could be buying up all those shares with its billion dollar loan for all we know. Word on the street is that something could happen Monday, but the only certainty right now is tonight's deadline.

JoystiqEA deadline to Take-Two shareholders ends tonight originally appeared on Joystiq on Fri, 16 May 2008 12:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaElectronic-Artshostile-takeovertake-twotakeoverFri, 16 May 2008 12:15:00 EST<![CDATA[Rumor: Take-Two buyout news coming Monday]]>http://www.joystiq.com/2008/05/15/rumor-ea-and-take-two-news-coming-monday/http://www.joystiq.com/2008/05/15/rumor-ea-and-take-two-news-coming-monday/http://www.joystiq.com/2008/05/15/rumor-ea-and-take-two-news-coming-monday/#commentsFiled under:


Lazard Capital Markets' Colin Sebastian issued a note on EA's financial statement last night claiming new information regarding the buyout of Take-Two Interactive would be forthcoming Monday. Sebastian, a known analyst with his ear to the "gaming industry grindstone," has been at the forefront of comments regarding a possible EA buyout since the first offer was made in April.

"Expect [an] update on TTWO bid by Monday morning," Sebastian noted. "We continue to believe that the current offer of $25.74 per share would be accretive to earnings for Electronic Arts, as well as fill several meaningful product gaps."

Last month EA extended its tender offer deadline from April 30 to May 16. The offer, if approved, would see Electronic Arts purchase Take-Two Interactive, publishers of the critical and commercial blockbuster Grand Theft Auto IV, for $2 billion. Expect the internet to burst into flames Monday if Sebastian's claim comes to fruition.

[via Videogaming247]

JoystiqRumor: Take-Two buyout news coming Monday originally appeared on Joystiq on Thu, 15 May 2008 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buyouteaelectronic-artstake-twoThu, 15 May 2008 10:00:00 EST<![CDATA[Family Album: Take Two Interactive]]>http://www.joystiq.com/2008/03/26/family-album-take-two-interactive/http://www.joystiq.com/2008/03/26/family-album-take-two-interactive/http://www.joystiq.com/2008/03/26/family-album-take-two-interactive/#commentsFiled under:


You might have heard this crazy rumor that Electronic Arts is trying to buy Take Two Interactive and if you haven't, welcome back to civilization. The merger got our family over at Joystiq to thinking, what exactly makes up the Take Two family tree? Diving deep into our library of research materials, Joystiq has examined and dissected all of the assets up for grabs in a possible Take Two buyout.

You may be surprised to see how many development teams call Take Two home. Other than obvious dev teams at Rockstar and 2K Boston, checking out this family album makes EA's acquisition anxiousness all the more understandable!

Head to Joystiq and take a gander at the Take Two family album

JoystiqFamily Album: Take Two Interactive originally appeared on Joystiq on Wed, 26 Mar 2008 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buyouteaelectronic-artstake-twoWed, 26 Mar 2008 15:30:00 EST<![CDATA[Rumor: EA purchases GTA community site for $3.4m [Update]]]>http://www.joystiq.com/2008/03/24/rumor-ea-purchases-gta-community-site-for-3-4-million/http://www.joystiq.com/2008/03/24/rumor-ea-purchases-gta-community-site-for-3-4-million/http://www.joystiq.com/2008/03/24/rumor-ea-purchases-gta-community-site-for-3-4-million/#commentsFiled under:


Update: Forum MODs have just confirmed for us that this was an April Fool's joke. That's strange though because we could have sworn it was still March. Thanks for wasting every body's time!

Confident they'll soon be the owners of all things Take Two Interactive, Electronic Arts has made a push to acquire GTANet.com, one of the largest Grand Theft Auto communities online (which is comprised of 11 different GTA based websites). According to reports, EA has acquired the site, including all domains associated and all statistical information about its members (as listed in the above email scan from EA to GTANet owners found by WhatIfGaming), for $3.4 million as of March 22.

If true, Electronic Arts would have one of the largest databases of information of any Grand Theft Auto community available. Speculation aside, we wonder how important this information is to EA if they were to acquire Take Two.

While the owners of the GTANet have not posted an official confirmation on the matter, the GTAForums.com logo has been changed to incorporate the EA insignia adding fuel to the fire. With this supposed acquisition we wonder Take Two acquisition press release is being edited as we speak.

[Thanks, Chris]
[Read, full email scan]
[Read, GTAForums New Logo]

JoystiqRumor: EA purchases GTA community site for $3.4m [Update] originally appeared on Joystiq on Mon, 24 Mar 2008 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>buyouteaelectronic-artsgrand-theft-autogtagtaivtake-twoMon, 24 Mar 2008 17:30:00 EST<![CDATA[Rockstar is the key as EA gets hostile in takeover bid]]>http://www.joystiq.com/2008/03/17/rockstar-is-the-key-as-ea-gets-hostile-in-takeover-bid/http://www.joystiq.com/2008/03/17/rockstar-is-the-key-as-ea-gets-hostile-in-takeover-bid/http://www.joystiq.com/2008/03/17/rockstar-is-the-key-as-ea-gets-hostile-in-takeover-bid/#commentsFiled under:


Speaking to the BBC, EA chief executive John Riccitiello was clear that the primary interest EA has in acquiring Take Two Interactive is the company's strong roster of development teams, specifically that of Rockstar Games.

"The big headline here is that our primary interest is in Rockstar and the intellectual properties around Rockstar," Riccitiello said as the April 29 release of Grand Theft Auto IV looms in the distance. Sports gamers have long stated their frustration with the attempted acquisition because it would remove EA's only competitor in the simulation-sports market. Riccitello explained that the sports angle was a secondary thought, "sports games are secondary consideration here," he explained.

While Take Two had declined the initial offer from EA for $2 billion, the acquisition has recently gone hostile. In order to purchase the company from under Take Two executives, EA has put in a cash tender offer to purchase all outstanding shares of common stock for $26 each on last Thursday targeting shareholders. Take Two executives have since asked shareholders to hold out on the offer, which is set to expire on April 11 - a mere 18 days before the launch of the GTAIV cash-cow. With the news that EA is targeting new shareholders that are looking to unload a headache, this news looks to get more interesting by the day.

[Read, Joystiq]
[Read, Next Gen]

JoystiqRockstar is the key as EA gets hostile in takeover bid originally appeared on Joystiq on Mon, 17 Mar 2008 16:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaelectronic-artsgtaivrockstartake-twoMon, 17 Mar 2008 16:15:00 EST<![CDATA[Take-Two asks shareholders not to take EA offer]]>http://www.joystiq.com/2008/03/13/take-two-asks-shareholders-not-to-take-ea-offer/http://www.joystiq.com/2008/03/13/take-two-asks-shareholders-not-to-take-ea-offer/http://www.joystiq.com/2008/03/13/take-two-asks-shareholders-not-to-take-ea-offer/#commentsFiled under:


Take-Two is appealing to stockholders not to consider EA's early-morning all cash tender offer, which pitched a purchase of the company's stock at $26 a share (a 4.4% premium over yesterday's closing price). The Take-Two board states it will review and consider EA's offer and, within 10 business days, advice stockholders of the board's position on the matter along with its reasoning.

The 10 day "please wait" request from the Take-Two board is still way within the April 11 deadline given by EA on its $26 per share offer to stockholders. EA wants Take-Two and it wants it bad.

JoystiqTake-Two asks shareholders not to take EA offer originally appeared on Joystiq on Thu, 13 Mar 2008 11:46:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AcquisitionBreakingNewsBuyoutEAElectronic-ArtsRiccitielloTake-TwoTakeTwoZelnickThu, 13 Mar 2008 11:46:00 EST<![CDATA[EA makes all cash tender offer to purchase Take-Two]]>http://www.joystiq.com/2008/03/13/ea-makes-all-cash-tender-offer-to-purchase-take-two/http://www.joystiq.com/2008/03/13/ea-makes-all-cash-tender-offer-to-purchase-take-two/http://www.joystiq.com/2008/03/13/ea-makes-all-cash-tender-offer-to-purchase-take-two/#commentsFiled under:


With Take-Two Executive Chairman Strauss Zelnick having thoroughly rejected EA's initial buyout offer, the Madden and Burnout publisher has redirected its corporate Katamari at Take-Two shareholders. EA has announced the commencement of a tender offer for all of the currently outstanding shares of common stock of Take-Two Interactive Software at $26 per share. Valued at approximately $2 billion, the offer reportedly represents a 64% premium over Take-Two's closing stock price on February 15, the company's last trading day before EA began its increasingly aggressive financial courtship. Compared to Wednesday's stock price, it constitutes a 4.4% premium.

Barring extension, the tender offer is good until midnight EST on Friday, April 11, 2008. EA CEO John Riccitiello described the offer as "a great opportunity for Take-Two shareholders" and as a a way to "maximize the value" of their investment. "For EA shareholders, the combination would add additional intellectual properties to our already strong portfolio and welcome Take-Two's talented creative teams to the great development organization we've built at EA," he concluded.

Will shareholders deem this offer welcomed financial assistance or unwanted financial insistence? We'll have to wait and see.

JoystiqEA makes all cash tender offer to purchase Take-Two originally appeared on Joystiq on Thu, 13 Mar 2008 06:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AcquisitionBreakingNewsBuyoutEAElectronic-ArtsRiccitielloTake-TwoTakeTwoZelnickThu, 13 Mar 2008 06:50:00 EST<![CDATA[Sega: We're not interested in a buyout, thanks]]>http://www.joystiq.com/2008/03/06/sega-were-not-interested-in-a-buyout-thanks/http://www.joystiq.com/2008/03/06/sega-were-not-interested-in-a-buyout-thanks/http://www.joystiq.com/2008/03/06/sega-were-not-interested-in-a-buyout-thanks/#commentsFiled under:

Apparently, one merger per decade is enough for Sega. Despite falling on some tough financial times recently, Sega has declared that it is decidedly not interested in getting bailed out by some generous big-time buyout (not that anyone else was necessarily interested, mind you).

In an interview with Reuters, Sega Sammy CEO Simon Jeffrey said his company isn't eager to ride the industry's recent wave of consolidation. "That's not an area we want to play in right now," he said. "We have no interest in being acquired, we are very happy with our position right now."

Buoyed by extremely strong sales of Mario & Sonic at the Olympic Games, Jeffrey seems perfectly content with his company's current sixth-place position in the game publisher rankings. "There is plenty of room for smaller companies to be successful and profitable in this business," he said. "You don't have to be number one or number two. You can be number six very happily," Jeffrey said. Chant along with us everybody: We're number six! We're number six!

JoystiqSega: We're not interested in a buyout, thanks originally appeared on Joystiq on Thu, 06 Mar 2008 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquisitionbuyoutmergermergerspublishersegasega-sammyThu, 06 Mar 2008 15:00:00 EST<![CDATA[Take-Two's Zelnick reiterates rejection of EA buyout]]>http://www.joystiq.com/2008/03/05/take-twos-zelnick-reiterates-rejection-of-ea-buyout/http://www.joystiq.com/2008/03/05/take-twos-zelnick-reiterates-rejection-of-ea-buyout/http://www.joystiq.com/2008/03/05/take-twos-zelnick-reiterates-rejection-of-ea-buyout/#commentsFiled under:


Take-Two Executive Chairman Strauss Zelnick continues to hold the line against EA's buyout offer, repeating once again the company still isn't interested. In a Q&A with The Hollywood Report, Zelnick believes that consolidation is likely to continue in the industry, but he would like Take-Two to remain an "independent company."

We'll have to wait and see if it's just lip service, but Zelnick actually says a few things that stray from the well-paved path we've seen from EA and (ever-increasingly) Activision. He finds pride in the progress made over the last 10 months since taking over the company and then commits the video game executive version of shock-and-awe by saying, "Does consolidation create better games for consumers? Does it create better careers for the creatives? Those questions are just as important. If all stakeholders aren't taken care of, then none of the stakeholders will benefit." If Take-Two survives what some analysts say is the inevitability of an EA buyout, and Zelnick sticks with that line of thinking, we may have to send him a Valentine's Day card next year. We'll have to find out if he prefers flowers or chocolates?

[Via GameDaily]

JoystiqTake-Two's Zelnick reiterates rejection of EA buyout originally appeared on Joystiq on Wed, 05 Mar 2008 15:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaElectronic-Artsrejectiontake-twotaketwozelnickWed, 05 Mar 2008 15:10:00 EST<![CDATA[Jack Thompson offers to help EA with Take-Two takeover]]>http://www.joystiq.com/2008/03/02/jack-thompson-offers-to-help-ea-with-take-two-takeover/http://www.joystiq.com/2008/03/02/jack-thompson-offers-to-help-ea-with-take-two-takeover/http://www.joystiq.com/2008/03/02/jack-thompson-offers-to-help-ea-with-take-two-takeover/#commentsFiled under:


Last week, Electronic Arts CEO John Riccitiello revealed an offer put forward to Take-Two Interactive executive chairman Strauss Zelnick to buyout T2 for nearly $2 billion. Zelnick expediently and publicly shot down the offer, though this battle of the peculiar last names was far from over -- since then we've heard that other companies took interest in T2 after EA was shot down, though certain industry analysts believe EA will eventually win out. Yesterday brought news of a new player on the field that could tip the battle in EA's favor -- Enter: Jack Thompson!

Yes, everyone's favorite Floridian moralist (and T2 shareholder) recently threw his support behind Electronic Arts in an impassioned letter, saying he would help "evict the Zelnick Trojan Horse from within Take-Two's corporate walls". We think that EA and J.T. would be strange bedfellows, given Thompson's denunciation of Sims 2 a few years back -- though his uncustomary defense of Mass Effect might have rebuilt that once-burnt bridge. How about it, EA? Is your raid on Take-Two LFM?

JoystiqJack Thompson offers to help EA with Take-Two takeover originally appeared on Joystiq on Sun, 02 Mar 2008 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buyouteaElectronic-Artselectronicartsjack-thompsonjackthompsonmergert2take-twotaketwothompsonSun, 02 Mar 2008 16:30:00 EST