Business

King.com Reveals Record Q1 FY 2014 Revenues

May 7, 2014 - GamePolitics Staff

In its first earnings report as a publicly traded company Candy Crush Saga maker King.com reported revenue of $606.7 million for the first fiscal quarter of 2014. The company claims that it currently has 143 million active users participating in its games on a daily basis. King's profits reached $127.2 million and mobile gross bookings for the quarter reached a record quarterly high of $480 million.

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Rovio Reveals 'LVL 11' Publishing Label

May 7, 2014 - GamePolitics Staff

Rovio, who is already operating a third-party publishing label called Rovio Stars, revealed another publishing label called Rovio LVL 11. The new label is apparently for internal games that don't quite fit in with Rovio's overall brand.

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Activision to Spend $500 Million on 'Destiny' Series

May 6, 2014 - GamePolitics Staff

Activision has set aside $500 million in total to develop, manufacture and promote the Bungie's Destiny series. That big number was revealed by Activision chief executive Bobby Kotick at the Milken conference in LA, as reported on by Reuters.

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Sony Forecasts a Net Loss of $1.3 Billion for Fiscal Year 2013

May 1, 2014 - GamePolitics Staff

Sony announced today that it expects to report a net loss of 130 billion yen ($1.3 billion) for the 12 month period that ended on March 31, 2014. That compares with a loss of 110 billion yen ($1.1 billion) forecast in February, a reduction from its October 2013 projection of a 30 billion yen ($294 million) profit. Sony won't report its consolidated results for the fiscal year until May 14, but it published a preliminary earnings report on Thursday to get investors prepared for the news.

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Glu Mobile Acquires PlayFirst

May 1, 2014 - GamePolitics Staff

Glu Mobile has acquired Diner Dash maker PlayFirst, according to this GII report. The transaction is expected to close this month. Glu Mobile bought the company by offering PlayFirst shareholders 3 million shares of the company's common stock and by taking on $3.55 million of PlayFirst's debt.

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Rovio Profits Down by 52 Percent in FY13

April 28, 2014 - GamePolitids Staff

Angry Birds maker Rovio may have spent too much time focusing on its number one hit game franchise. According to this Gamasutra report, Rovio's profits were cut by more than 50 percent during the 2013 fiscal year.

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Microsoft Completes Acquisition of Nokia

April 28, 2014 - GamePolitics Staff

Microsoft has finally completed its acquisition of mobile phone maker Nokia. The completion of the acquisition follows approval from Nokia shareholders and various governmental regulatory agencies around the world. Microsoft announced on Sept. 3 of last year that it intended to acquire Nokia for a total of $7.5 billion in cash. The deal consisted of approximately $5 billion and an agreement to license Nokia's patents for $2.17 billion.

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Free Press Offers Tips on How to Speak Out on Net Neutrality

April 25, 2014 - GamePolitics Staff

Advocacy group Free Press is not happy about the FCC's future changes to the Open Internet Order of 2010. They have several useful links that will make it easier for you to let your voice be heard at the FCC and multiple articles on why FCC Chairman Tom Wheeler's proposal will do more harm than good to Net Neutrality.

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Zynga Reports Q1 Loss of $61 Million

April 24, 2014 - GamePolitics Staff

Social and mobile game maker Zynga reported a first-quarter loss of $61 million, compared to a $25 million loss from its previous quarter and a profit of $4 million the same period a year ago. Zynga also announced that its founder Mark Pincus, who had already stepped down as its chief executive officer, would leave his role as chief product officer, basically ending his executive duties at the firm. Pincus remains the chairman of the board.

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NetEase Licenses 'Heroes of the Storm' for Mainland China

April 22, 2014 - GamePolitics Staff

Blizzard Entertainment, Inc. and NetEase have inked an agreement to license Blizzard Entertainment's Heroes of the Storm to a NetEase-affiliate in mainland China for a term of three years. Heroes of the Storm is Blizzard's upcoming free-to-play, online team brawler featuring heroes from more than 20 years of Blizzard gaming history. Gamers will be able to play some of their favorite characters from the Warcraft, StarCraft, and Diablo universes, and team up with friends to battle other teams online.

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Netflix Publicly Opposes Comcast-TWC Merger, Announces Rate Hike for New Customers

April 22, 2014 - GamePolitics Staff

Last week Senator Al Franken (D-Minn.) sent a letter to entertainment streaming service Netflix asking the company to weigh in on the proposed merger between Comcast and Time Warner Cable. This week Netflix gave its opinion... to shareholders.

"If the Comcast and Time Warner Cable merger is approved, the combined company’s footprint will pass over 60 percent of U.S. broadband households," Netflix CEO Reed Hastings wrote in a letter to shareholders, adding, "Comcast could control high-speed broadband to the majority of American homes."

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Perfect World to Buy 30 Million Shares in Shanda Games

April 21, 2014 - GamePolitics Staff

China-based MMO developer and publisher Perfect World Entertainment announced this morning that it has entered into an agreement to purchase more than 30 million shares of Chinese MMO outfit Shanda Games Limited for $100 million in cash.

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NCSoft Invests $4.8 Million in Lezhin Entertainment

April 17, 2014 - GamePolitics Staff

Online game maker NCsoft has invested an estimated $4.8 million in South Korean web comics firm Lezhin Entertainment, according to GII.

NCsoft said that the ₩5 billion ($4.8 million USD) investment in Lezhin will offer opportunities to leverage its IP in new ways, and that it will also allow Lezhin to leverage its portfolio of intellectual property for creating interactive entertainment.

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Sony Unloads Holdings in Square Enix

April 16, 2014 - GamePolitics Staff

Sony Computer Entertainment announced this morning that it has sold all of its holdings - its entire 9,520,000 shares - in Square Enix to SMBC Nikko Securities. An income of nearly 4.8bn yen will be marked down in Sony's financial report for the year ending 31st March 2015, with the exact sale price of the shares to be revealed tomorrow. Sony's annual financial report for the year ending March 31, 2014 will be released on May 14 and will likely contain a forecast for the year ahead that will include the sale of the shares.

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CCP Games Records FY13 Loss

April 15, 2014 - GamePolitics Staff

CCP Games recorded a loss of over $21 million for financial year 2013, the company announced today. This is a major decline from a profit of $4.6 million in the previous year. Revenues for the company rose to $76.7 million from $56.3 million. So what caused the massive drop for 2013? According to CCP, a massively increased R&D budget. That budget climbed from $16.5 million in FY 2012 to $56.5 million in FY 2013. The costs are likely related to the development of Eve: Valkyrie, Eve Online, Dust, and costs related to the now cancelled World of Darkness MMO.

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Capcom Spending $79 Million on New R&D Facilities

April 14, 2014 - GamePolitics Staff

Capcom announced that it is building two new research and development facilities in Osaka, Japan. The cost of these new facilities is estimated at around eight billion yen, or $79 million. Construction of the first building (R&D Building S) began in May of 2013 and is expected to be completed by January 2015 at a cost of 2.5 billion yen, or $24.6 million. Construction on the second building (R&D Building N) began this month and is expected to be completed in February 2016 at a cost of 5.5 billion yen, or $54.1 million.

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Poll Results: How Will Oculus Rift Be Affected By Facebook's Acquisition of the Device?

April 9, 2014 - GamePolitics Staff

Last week we asked our readers, "How Will Oculus Rift Be Affected By Facebook's Acquisition of the Device?" A slim majority of our readers believe that the Facebook acquisition of the popular VR gaming technology company is very bad news.

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Wargaming to Invest $10 Million in Support of eSports

April 4, 2014 - GamePolitics Staff

Wargaming CEO Victor Kisyli has pledged that his company will invest $10 million into improving and developing features that support eSports in 2014. At a press conference in Warsaw, Poland, Wargaming CEO Victor Kisyli said that there has been a huge upswing of interest in World of Tanks for eSports in the last two years. In 2012, 30,000 pro players took part in 120 World of Tanks tournaments, while in 2013 that number climbed to 200,000 players across more than 1,000 World of Tanks tournaments, according to Wargaming's calculations.

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'Diablo 3: Reaper of Souls' Sales Hit 2.7 Million Mark

April 3, 2014 - GamePolitics Staff

Activision Blizzard announced today that its first expansion for Diablo 3 is selling like hotcakes. Diablo 3: Reaper of Souls topped 2.7 million units in the expansion's first week of availability, according to Activision Blizzard.

The data is based on internal company sales tracking and reports from key distribution partners. We assume that these numbers also include digital direct-to-consumer sales by Blizzard.

Diablo 3's first expansion pack launched on PC and Mac on March 25.

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Atlus and Index Officially Break Up

April 2, 2014 - GamePolitics Staff

In late February Sega announced that it would split Atlus away from its parent company, Japan-based Index. Sega acquired the original North American publisher of Tactics Ogre, Disgaea, Steambot Chronicles, Trauma Center, the Persona series, and many other popular Japanese games in September 2013 in a deal that cost the company an estimated $140 million.

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Phil Spencer Takes Over Xbox Division

March 31, 2014 - GamePolitics Staff

Phil Spencer has been named the new Head of Xbox at Microsoft. In his new role he'll be in charge of Xbox Live, Xbox Music, Xbox Video and Microsoft Studios. Spencer says that he will employ a "gaming first" philosophy at the Microsoft division, making sure that video games are the most important component of the Xbox One.

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John Carmack Talks More About Facebook Acquiring Oculus VR

March 31, 2014 - GamePolitics Staff

Last week former id Software programmer and founder had very little to say about Facebook acquiring the company he recently joined (save that having some financial backing would help them avoid future scaling issues).

But over the weekend, Carmack responded to a post on the blog of Peter Berkman, detailing why he thinks Oculus VR being owned by Facebook isn't such a bad thing. Carmack sympathizes with fans who wanted Oculus Rift to follow a model similar to what Valve did with Steam, he says that virtual reality is too significant a technology to remain at that level.

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Turtle Entertainment Buys ESS Agency

March 31, 2014 - GamePolitics Staff

eSports brand Electronic Sports League (ESL) announced that parent company Turtle Entertainment GmbH, has entered into an agreement to acquire U.S. -based ESS Agency and that it would open a full production studio and offices in Los Angeles, California. This will mark the seventh international office for the eSports company to date. ESL’s North American operations will be conducted from two U.S. offices, New York and Los Angeles.

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Oculus VR Executives 'Surprised' By Negative Reaction to Facebook Acquisition

March 28, 2014 - GamePolitics Staff

In an interview with Game Informer, Oculus VR vice president of product Nate Mitchell expressed his surprise to the publication about the general negative reception it received from fans concerning the acquisition by Facebook earlier this week.

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King Stumbles in First Day of Public Trading

March 26, 2014 - GamePolitics Staff

King Digital Entertainment went public this morning on the New York Stock Exchange after raising about $500 million in an IPO that valued the company at about $7.6 billion.

But the Candy Crush maker and litigious patent and trademark holder fell short of its valuation with a tepid response from the market; shares opened at $20.50 well below the expected $22.50, and are - as of this writing - trending downward ($20.29).

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Facebook to Acquire Oculus for $2 Billion

March 25, 2014 - GamePolitics Staff

Facebook announced this afternoon that it would purchase VR headset maker Oculus for $2 billion with a combination of cash and stock. The company will pay $400 million in cash and 23.1 million shares worth about $1.6 billion. Oculus employees will also eligible for an additional $300 million if the company achieves certain targets.

"This is a long-term bet on the future of computing," said Facebook Chief Executive Mark Zuckerberg Tuesday on a call with analysts. "I believe Oculus can be one of the platforms of the future."

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Disney Acquires Maker Studios

March 25, 2014 - GamePolitics Staff

Disney has acquired YouTube video network Maker Studios. The company has paid $500 million to acquire the outfit, which is best known for carrying the videos made by YouTube star 'PewDiePie.' Last year PewDiePie beat such stars as Miley Cyrus and One Direction to become YouTube’s most watched star in H2 2013.

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Giant Interactive Becomes a Privately Owned Company

March 17, 2014 - GamePolitics Staff

Chinese online game company Giant Interactive Group Inc. (also known as Giant Interactive has become a private company again, thanks to a buyout deal involving the company's Chairman and two investment firms. The company has been publicly traded for seven years. The deal was led by company chairman Shi Yuzhu and included investments from Hony Capital and Baring Private Equity Asia.

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Majesco Reports Loss in First Quarter

March 13, 2014 - GamePolitics Staff

Majesco continues to have financial challenges, as evident by its fiscal quarter 2014 results. For the quarter ended January 31, 2014, Majesco reported earnings of $21.9 million in revenue, down slightly from the $23.5 million earned in the same quarter last year. The company also posted a net loss of $4.5 million, compared to a loss of $2.1 million in the same period a year ago. On a non-GAAP basis, Majesco realized a Q1 loss of $4.1 million, versus $1.1 million in the same quarter last year.

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King Expects to Raise as Much as $532.8 Million from IPO

March 12, 2014 - GamePolitics Staff

In a filing with the U.S. Securities and Exchange Commission, Candy Crush Saga maker King today said that it plans to price its shares between $21 and $24 for its initial public offering and that it plans to sell 22.2 million shares.

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Poll

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

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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
PHX Corp@prh99 Not to mention the Dangerous Precedent that sony's hacking scandal just set http://mashable.com/2014/12/17/sony-hackers-precedent/12/18/2014 - 8:25am
 

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