Nintendo Downgraded Forecast

JAN. 17, 2014 • Despite strong indications otherwise during the months leading into Christmas, Nintendo Co. Ltd. has steadfastly held to its 9 million Wii U unit sales projections for the fiscal year ending March 31. After digesting holiday sales data the Nintendo downgraded forecast for Wii U sales to 2.8 million for the fiscal year. “As year-end sales constitute an extremely high proportion of the annual sales volume in the video game industry and the an.....

Activision Buys Freedom From Vivendi

JULY 26, 2013 • With €13.2 billion ($17.5 billion) in debt on its books Vivendi SA has been contemplating ways to pull money out of its 61% stake in publisher Activision Blizzard. In a huge $8.17 billion deal orchestrated by Activision Blizzard chief executive Bobby Kotick, the publisher will buy out Vivendi’s controlling stake. The agreement is structured around a 429 million share purchase by Activision Blizzard for $5.83 billion, and an additional 172.....

Wargaming Buys Gas Powered Games

FEB. 15, 2013 • Financially ailing Gas Powered Games, which had pegged its future on its new Wildman action RPG property and a $1 million Kickstarter campaign to fund the project, agreed to be acquired by F2P World of Tanks publisher Wargaming. In the three weeks since starting the funding drive, Gas Powered Games had just over $500,000 in pledges and had been forced to lay off most of its staff. Following the acquisition by Wargaming, the indie developer cance.....

THQ Broken Up Post Bankruptcy

JAN. 23, 2013 • A month after THQ entered Chapter 11 bankruptcy and restructuring, an asset auction was held and no potential buyer came forward with a bid higher than the sum of individual bids for the publisher’s separate assets. As a result, THQ management has recommended to the bankruptcy court the separate sale of assets, and U.S. Bankruptcy Judge Mary F. Walrath in Wilmington, Delaware promptly approved the sales. The Bloomberg news service reported .....

THQ Enters Chapter 11

DEC. 19, 2012 • With $248.1 million in debt and $204.8 million in assets, THQ Inc. filed for Chapter 11 protection with the U.S. Bankruptcy Court in the district of Wilmington, Del.  Only THQ’s U.S. units are covered in the voluntary filing, which seeks to facilitate sale .....

Disney Acquires LucasFilm

OCT. 31, 2012 • The Walt Disney Company is purchasing LucasFilm Ltd., for $4.05 billion. The latter is wholly owned by chairman George Lucas, who will receive roughly $2 billion in cash, and the remainder in 40 million shares of Disney stock. Disney is acquring Lucas’ entire entertainment holdings, including the LucasArts video game division, and the Industrial Light & Magic special effects business. The sale will make Lucas the second-largest sharehol.....