Business

Majesco Raises $6 Million in Investments

December 18, 2014 - GamePolitics Staff

Troubled New Jersey-based publisher Majesco has managed to drum up a $6 million dollar investment as part of a deal that required the resignation of two high-ranking Majesco executives from the company's Board of Directors: chairman Allan Grafman and Majesco CEO Jesse Sutton.

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'Bandai Namco Games' Renamed To 'Bandai Namco Entertainment'

December 17, 2014 - GamePolitics Staff

Parent company Bandai Namco Holdings has changed the name of Bandai Namco Games again - even if the change is ever so slight compared to the last time the company rebranded itself. The company's board of directors voted and approved a name change from Bandai Namco Games to Bandai Namco Entertainment. The change will take place officially on April 1, 2015, with 20 subsidiaries rebranded from under the new moniker.

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North American Operations Lower Perfect World Entertainment Profits

November 26, 2014 - GamePolitics Staff

China-based Perfect World Entertainment reported a decline in profits for the third quarter, citing poorly performing North American properties. During the three-month period ended September 30, 2014, Perfect World earned ¥974 billion ($158.7 million) in revenue, up by around 5 percent compared to the same period a year ago. The five percent growth was attributed to the ongoing success of DOTA2 in China, which the company operates for Valve and the successful launch of mobile games CrossGate Mobile and Forsaken World.

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Activision Blizzard Settles With Shareholders Over Vivendi Stock Repurchase Plan

November 20, 2014 - GamePolitics Staff

Activision Blizzard has settled its lawsuit filed by shareholders after the company bought back a controlling interest in the former majority stakeholder Vivendi in 2013.

In a press release announcing the settlement, which still requires the approval of the Delaware court where the class action lawsuit was filed, the board of directors said the following:

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Report: Majesco in Financial Trouble

November 17, 2014 - GamePolitics Staff

According to this Gamasutra report, Majesco and its indie publishing label Midnight City are in serious financial trouble. According to sources "inside and outside the company" and several SEC filings by the company in the last week, Majesco is having financial trouble and has laid off some of its staff.

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Report: Warner Bros. Prepares for Company-Wide Layoffs

November 5, 2014 - GamePolitics Staff

According to a Game Informer report, Warner Bros. is making company-wide layoffs - and those layoffs will begin this week. A memo obtained by GI attributed to Warner Bros. CEO Kevin Tsujihara sent to employees reveals that layoffs are going to happen until the first quarter of 2015 in all divisions of the company.

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Activision Blizzard Reports Record Third-Quarter Results

November 4, 2014 - GamePolitics Staff

Activision Blizzard reported record third-quarter earnings, with year-over-year increases in revenues and income based on sales of its hit franchise Destiny and continued growth with World of Warcraft and Hearthstone. On a GAAP basis, the company reported sales of $753 million, way up from the $691 million from the same periods a year ago. On a non-GAAP basis, the company reported net revenues of $1.17 billion, way up from $657 million in the same period a year ago.

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EMA Announces 2015 Los Angeles Entertainment Summit

November 4, 2014 - GamePolitics Staff

The Entertainment Merchants Association (EMA) announced that the fourth annual Los Angeles Entertainment Summit (LAES) will be held July 6-8, 2015 at the Hyatt Regency Century City.

DreamHack Fires CEO

October 27, 2014 - GamePolitics Staff

Sweden-based eSports leader Dreamhack has fired its CEO Robert Ohlén a month before the organization's annual winter event. Dreamhack started in Sweden in 1997, and it now organizes two annual events. The firing was confirmed by The Daily Dot, who spoke to Fredrik Nystrom, DreamHack's head of PR. Nystrom didn't offer comment beyond that confirmation, but The Daily Dot described the situation as an "internal power struggle" concerning the "public face of the company."

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Former EA CEO John Riccitiello Takes Top Post at Unity

October 22, 2014 - GamePolitics Staff

In a letter to the Unity game development community today, current CEO David Helgason announced that he was resigning and that former EA CEO John Riccitiello would be taking his place. Riccitiello left EA in March of 2013 and joined the Unity board of directors in November 2013. Helgason will remain at Unity, but as its executive vice president in charge of strategy and communications.

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Commerce Secretary Meets With Tech and Gaming Industry on Silicon Valley Tour

October 14, 2014 - GamePolitics Staff

Commerce Secretary Penny Pritzker is making the rounds in Silicon Valley this week, according to Politico's Morning Tech.

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Unity CTO Denies Sale Rumors

October 14, 2014 - GamePolitics Staff

Despite reports that popular game development suite Unity is up for sale, the company says that it currently has no plans on losing its independence.

"We have no plan to sell Unity," said co-founder and CTO Joachim Ante in a new post on the official Unity forums.

Ante's response relates to a rumor that first surfaced on CNET last week.

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Finland PM Blames Apple for Country's Economic Decline

October 13, 2014 - GamePolitics Staff

Alexander Stubb, the Prime Minister of Finland, has publicly accused Apple of taking down two of the country’s largest economic engines: Nokia and the paper industry. Finland saw its sovereign debt rating downgraded from AAA to AA+ by ratings agency Standard & Poor.

Speaking on CNBC, PM Stubb pointed his finger at Apple's iPhone and iPad:

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Analysts Agree: Canceling 'Titan' Was an Expensive Decision for Blizzard

September 24, 2014 - GamePolitics Staff

At least three analysts who follow the video game industry say that Blizzard's cancelation of Titan this week may have cost the company tens of millions of dollars.

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Nexon Launches New Division, Shuffles Executives

September 22, 2014 - GamePolitics Staff

Free-to-play online games company NEXON Co., Ltd. has launched a new division within the company called ‘Nexon XP’ and shuffled some of its top executives. The new division will be dedicated to working with external development talent to bring their free-to-play games into the Nexon free-to-play games portal.

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$325 Million Worth of 'Destiny' Games Have Been 'Sold Through'

September 17, 2014 - GamePolitics Staff

Activision announced today that, of the $500 million in Destiny copies it shipped to retail (announced last week), an estimated $325 million worth of product has been sold through to consumers. The sales data, which is as clear as a murky swamp, comes from an amalgamation of data from UK's Chart-Track, retail customer sell-through data, first parties and internal estimates from Activision Blizzard.

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Sony Predicts $2.1 Billion FY 2015 Loss

September 17, 2014 - GamePolitics Staff

Sony announced today that, despite the PS4 selling so well, it still expects to report a net loss of 230 billion yen, or $2.1 billion, for the current fiscal year ending in March 2015. The scope and size of the net loss is a lot larger than what the company predicted back in July: it previously predicted a net loss of 50 billion yen, or $466m.

Sony is pinning this loss on impairment charges of 180 billion yen or $1.7 billion related to its struggling smartphone business

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GameStop Sells Off Spanish Retail Stores to GAME

September 16, 2014 - GamePolitics Staff

GII reports that GameStop will no longer be selling games in Spain. The company announced that it has sold off a majority of its retail stores in the region to UK-based retailer GAME Digital Plc. The stores that were not part of the deal will eventually be closed.

"Our strategic decision to exit the Spanish market was not taken lightly," said GameStop executive vice president Michael Mauler.

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SimBin Goes Bankrupt, Relaunches as Sector 3 Studios

September 11, 2014 - GamePolitics Staff

Swedish game developer SimBin Studios has gone bankrupt, according to what former company COO Christopher Speed has told Develop today. A total of 18 employees are affected by the bankruptcy. But even as SimBin goes into the history books, Speed has launched a brand new company called Sector 3 Studios, which will continue developing RaceRoom Racing Experience.

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'Destiny' Generates $500 Million for Activision On First Day of Release

September 10, 2014 - GamePolitics Staff

Activision says that Bungie's Destiny has earned more than $500 million in revenue since the game launched on Tuesday. That figure, according to Activision, comes from retailers buying the game, and "business from first parties." Activision did not disclose any actual sales numbers, nor did it say if sales were related to digital or retail sales, or the PS4 White Destiny bundle deal it has with Sony.

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Report: Microsoft in Talks to Buy Mojang for $2 Billion

September 10, 2014 - GamePolitics Staff

A Bloomberg report citing three individuals with knowledge of the deal, claims that Microsoft is in talks with Marcus Persson to buy Minecraft maker Mojang AB for an estimated $2 billion.

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Report: Rovio CEO Leaving Company in 2015

September 4, 2014 - GamePolitics Staff

Rovio CEO Mikael Hed has announced plans to leave the company in January 2015, the Wall Street Journal reports. He will reportedly be replaced by Pekka Rantala, a former Nokia executive who joined the company in the early part of this year.

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Little Orbit Acquires Vicious Cycle Software

September 4, 2014 - GamePolitics Staff

Video game publisher Little Orbit announced that it acquired video game developer Vicious Cycle Software earlier this year. Vicious Cycle Software is best known for creating video game properties based on TV and film licenses such as Ben 10 Omniverse and Ben 10: Alien Force, Madagascar 3: The Video Game, and Flushed Away. The company is also know for creating its own unique game franchises such as Earth Defense Force: Insect Armageddon, Eat Lead: The Return of Matt Hazard, and Dead Head Fred.

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Report: Ouya in Acquisition and Investment Talks

September 2, 2014 - GamePolitics Staff

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

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Rumor: Activision in Talks to Buy Take-Two

September 1, 2014 - GamePolitics Staff

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

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

September 1, 2014 - GamePolitics Staff

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

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

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CCP Games Fire Two Executives, Closes San Francisco Office

August 28, 2014 - GamePolitics Staff

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

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

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Amazon Promises 'No Change' In How Twitch Operates

August 26, 2014 - GamePolitics Staff

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

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GameStop Sees 25 Percent Increase in Global Sales During Q2

August 22, 2014 - GamePolitics Staff

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

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GunHo Sells Stake in Supercell

August 21, 2014 - GamePolitics Staff

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

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Poll

Should 'Hatred' have been removed from Steam Greenlight?:

Shout box

You're not permitted to post shouts.
E. Zachary KnightIf you are downloading a copy in order to bypass the DRM, then you are legally in the wrong. Ethically, if you bought the game, it doesn't matter where you download it in the future.12/19/2014 - 12:06pm
InfophileEZK: Certainly better that way, though not foolproof. Makes me think though: does it count as piracy if you download a game you already paid for, just not from the place you paid for it at? Ethically, I'd say no, but legally, probably yes.12/19/2014 - 11:20am
ZippyDSMleeAnd I still spent 200$ in the last month on steam/GOG stuff sales get me nearly every time ><12/19/2014 - 10:55am
ZippyDSMleeMaskedPixelante:And this is why I'm a one legged bandit.12/19/2014 - 10:51am
ZippyDSMleeE. Zachary Knight: I buy what I can as long as I can get cracks for it...then again it I could have gotton Lords of the Fallen for 30 with DLC I would have ><12/19/2014 - 10:50am
MaskedPixelantehttp://www.joystiq.com/2014/12/19/marvel-vs-capcom-origins-leaving-online-storefronts-soon/ Speaking of "last chance to buy", Marvel vs. Capcom Origins is getting delisted from all major storefronts. Behold the wonders of the all digital future.12/19/2014 - 9:59am
MaskedPixelanteSeriously, the so-called "Last Chance" sale was up to 80% off, while this one time only return sale goes for a flat 85% off with a 90% off upgrade if you buy the whole catalogue.12/19/2014 - 9:37am
E. Zachary KnightInfophile, Tha is why I buy only DRM-free games.12/19/2014 - 9:37am
MaskedPixelanteNordic is back on GOG for one weekend only. And at 85% off no less, which is kind of a slap in the face to people who paid more during the "NORDIC IS LEAVING FOREVER BUY NOW OR FOREVER HOLD YOUR PEACE" sale, but whatever...12/19/2014 - 9:28am
InfophileRe PHX's link: This is one of the reasons the digital revolution isn't all it's cracked up to be. There's also the flip side where Sony can block access to games you've bought if they ban your account for unrelated reasons. All power is theirs.12/19/2014 - 8:52am
MaskedPixelantehttp://uplay.ubi.com/#!/en-US/events/uplay-15-days You can win FREE GAMES FOR A YEAR! Unfortunately, they're Ubisoft games.12/18/2014 - 6:29pm
Papa MidnightAh, so it was downtime. I've been seeing post appear in my RSS feed, but I was unable to access GamePolitics today across several ISPs.12/18/2014 - 6:06pm
james_fudgeSorry for the downtime today, folks.12/18/2014 - 5:54pm
PHX Corphttp://www.craveonline.com/gaming/articles/801575-sony-refuses-offer-refund-playstation-game-fraudulently-purchased-hacker Sony Refuses to Offer Refund for PlayStation Game Fraudulently Purchased by Hacker12/18/2014 - 1:43pm
NeenekoMakes sense to me, and sounds kinda cool. One cool thing about Minecraft is the meta game, you can implement other game types within its mechanics. There are servers out there with plots, an episodic single player one sound kinda cool12/18/2014 - 11:07am
MaskedPixelantehttps://mojang.com/announcing-minecraft-story-mode/ Umm... what?12/18/2014 - 10:24am
NeenekoThat would make sense. Theaters probably can not afford the liability worry or a drop in ticket sales from worried people. Sony on the other hand can take a massive writeoff, and might even be able to bypass distribution contracts for greater profit.12/18/2014 - 10:03am
ConsterNeeneko: I thought they cancelled it because the major cinema franchises were too scared of terrorist attacks to show the film?12/18/2014 - 9:55am
Neeneko@Wonderkarp - there is still a lot of debate regarding if the movie was a motive or not. Unnamed officials say yes, the timeline says no.12/18/2014 - 9:10am
NeenekoSomething does not smell right though, Sony is no stranger to being hacked, so why cancel this film? For that matter, they are still not giving in to hacker's original demands as far as I know.12/18/2014 - 9:06am
 

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