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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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Warner Bros. Invests in Machinima

March 11, 2014 - GamePolitics Staff

Hot on the heels of a new round of layoffs, YouTube entertainment channel Machinima has managed to secure new funding to the tune of $18 million in a funding round led by Warner Bros.

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Long-Time Sony Computer Entertainment America CEO Jack Tretton Exiting Company March 31

March 6, 2014 - GamePolitics Staff

Long-time Sony Computer Entertainment America CEO Jack Tretton is leaving the company, on March 31, 2014. According to what SCEA tells GamesIndustry International, it was mutually agreed to that Tretton's contract would not be renewed. Shawn Layden, the current SCEA executive vice president and COO of Sony Network Entertainment International will become President and CEO of SCEA on April 1. Tretton has worked for SCEA since 2005.

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Funcom Q4 Revenues Down Thanks to Poor 'Secret World' Performance

March 5, 2014 - GamePolitics Staff

Funcom reported less-than-stellar revenues for the fourth quarter of 2013, citing a drop in the performance of its MMO, The Secret World. In the quarter that ended December 31, 2013 Funcom reported $4.3 million in revenue, down from the $7.8 million it generated in the same period a year earlier. Funcom's earnings before interest, tax, depreciation and amortization (EBITDA) were $233,000, down from $2 million the prior year. The company also reported a $4.2 million impairment on The Secret World and its underlying technology due to a decrease in its projected revenue.

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OnLive Reveals New Executive Chairman, Two New Services

March 5, 2014 - GamePolitics Staff

OnLive isn't back because it never left, but it is making headlines today by introducing several new services that it hopes can get it back on top of the video game streaming heap. First the company revealed that former IGN chief Mark Jung is its new executive chairman, and that it has launched OnLive Go and CloudLift. It has been working on this new technology since 2012 when the company fired most of its staff, sold itself to an investment firm and reformed under the same name.

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Interceptor Buys 3DRealms

March 3, 2014 - GamePolitics Staff

Danish developer Interceptor has bought 3D Realms, according to this Eurogamer report. Initially there was some confusion because the company said it bought Apogee Software LTD. The new Apogee - a separate company doing business under the name Apogee Software LLC - denied the report. This caused Interceptor CEO Frederik Schreiber to later clarify on Twitter.

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Apple Urges Arizona Governor to Veto SB1062

February 25, 2014 - GamePolitics Staff

Putting aside the fact that the Arizona law that would allow businesses to refuse services to gays and lesbians is likely unconstitutional, critics are saying that it will also hurt the state's ability to engage in commerce across state lines, damage local businesses who do not want to refuse service to anyone and will be lumped in with those who do, and may cause companies who want to bring jobs to the state to find somewhere else to go (either they are publicly opposed to the bill or do not want to be associated with the state or its controversial legislation).

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Trademark Attorney: King Would Be 'Mad' Not to Protect 'Candy' Trademark

February 20, 2014 - GamePolitics Staff

Speaking to MCV today, Marks & Clerk trademark attorney Aidan Clarke says that King did the logical thing when it tried to trademark "Candy" in the United States with the USPTO. Clarke said that the company would be "mad" not to make such a move to protect its intellectual property.

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

February 20, 2014 - GamePolitics Staff

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

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Sega to Split Atlus and Parent Company Index Up

February 18, 2014 - GamePolitics Staff

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

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King Lays Groundwork to Become Publicly Traded Company

February 18, 2014 - GamePolitics Staff

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

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Nexon's New CEO Keen on Western Acquisitions and Investments

February 14, 2014 - GamePolitics Staff

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

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Michael Pachter Prediction: Games Sales Down 20 Percent in January

February 10, 2014 - GamePolitics Staff

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

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

February 6, 2014 - GamePolitics Staff

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

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Amazon Acquires Killer Instinct Developer

February 6, 2014 - GamePolitics Staff

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

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

February 4, 2014 - GamePolitics Staff

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

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

February 4, 2014 - GamePolitics Staff

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

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Nintendo's Yamauchi Family Plans to Sell Shares

February 3, 2014 - GamePolitics Staff

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

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Mojang Sells Over 14 Million Copies of Minecraft for PC

February 3, 2014 - GamePolitics Staff

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

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

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Report: Funcom Under Investigation for Insider Trading

January 29, 2014 - GamePolitics Staff

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

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

January 29, 2014 - GamePolitics Staff

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

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

January 29, 2014 - GamePolitics Staff

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

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GungHo Expects to Rake in $1.2 Billion in 2014

January 28, 2014 - GamePolitics Staff

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

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

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Indiegogo Raises $40 Million in Latest Funding Round

January 28, 2014 - GamePolitics Staff

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

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prh99Devolvers response to Nintendo's creator program https://mobile.twitter.com/devolverdigital/status/56082061398444851301/31/2015 - 3:24am
Andrew EisenI only know of him being annoyed that IGDA mistakenly hosted on its anti-harassment tools page a blocklist he was on. What else was he critical of?01/31/2015 - 2:19am
Goth_Skunk@WonderKarp: Given Rosario's outspoken criticisms of the conduct of the IGDA, I would not be one bit surprised if he's being strong-armed into silence in closed-door meetings. He's not towing the party line, after all.01/30/2015 - 11:38pm
MechaTama31EZK: Thank you! (And I was able to see that you did it, only because you did it. How appropriate! :)01/30/2015 - 11:37pm
Matthew Wilson@Monte Nintendo is a Japanese company though. consoles are dead in japan. ps sony is a international company, so they do not much care about Japanese sales much.01/30/2015 - 10:11pm
MonteOnly one generation ago nintnedo had the best selling console. They know their games are still popular and can move their hardware. They just need to focus on better gaming hardware and advertising (their youtube policy not helping)01/30/2015 - 9:58pm
MonteI'd expect Nintendo to keep making consoles, much like the gamecube i doubt nintendo will see the Wii U as a sign of the end for consoles. There are multiple reason why the Wii U failed a big one being marketting.01/30/2015 - 9:55pm
Wonderkarpwhen asked on Twitter, the Chairman said He couldnt comment at this time https://twitter.com/siloraptor/status/561284497275367424. still looking for facts01/30/2015 - 9:41pm
Wonderkarphttp://pressfarttocontinue.com/2015/01/30/igda-puerto-rico-closed/ this is what I have so far01/30/2015 - 9:27pm
Wonderkarpso allegedly, IGDA has closed their Puerto Rico branch. This comes after the Chairman of the Puerto Rico branch was blocklisted by Randi Harper. I'm trying to dig up more info on it. all I have is a link with some info, but its not cited.01/30/2015 - 9:27pm
Andrew EisenSo, kinda like the Wii U just with a GamePad that's portable?01/30/2015 - 9:13pm
Matthew Wilson@AE I hope they do a Ipad/iphone thing. make a home console/handheld where games are playable on both. that is what I would want from them.01/30/2015 - 9:00pm
Andrew EisenThat would be a shame but as long as I can play comfortably on my TV I'll probably be fine with whatever the future brings.01/30/2015 - 8:56pm
Matthew Wilson@AE I would get used to it. I do not think nintendo is going to do another home console , but I suspect a hybrid one. 1. they are doing worse than the gamecube. 2. the home console market is dead in japan. even the ps4 isnt selling there.01/30/2015 - 8:54pm
Andrew EisenAside from that (and the aiming isn't too smooth but it's turn based so it's not a big deal (maybe better with Circle Pad Pro or New 3DS?)) my only other quibble is I'd much prefer playing it on a console. But I say that about nearly every handheld game.01/30/2015 - 8:39pm
Andrew EisenFrom what I've seen of Valkyria Chronicles, this is significantly slower. Mechanically, it's fine and plays into the game well. It just takes too long.01/30/2015 - 8:37pm
Matthew Wilsonyup like VC it moves every enemy each turn one by one.01/30/2015 - 8:33pm
Andrew EisenI played most of the Codename Steam demo. Pretty neat so far but the enemy turn (it's turn based) takes way too long.01/30/2015 - 8:31pm
Goth_SkunkJust finished the first episode of Life is Strange. The writing is hit-or-miss, the lip-syncing is awful (but I can't fault an indie dev for that), but the chronokinesis mechanic is dynamite. Love the concept. Can't wait to play more.01/30/2015 - 8:23pm
Andrew EisenNintendo invites disaster!01/30/2015 - 7:34pm
 

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