The latest figures from Viacom show a 65 per cent fall in net earnings compared to the previous year, a fall it at least partly attributes to its on going dispute with Harmonix.
For Q1 2012 the company showed net earnings of $ 212 million for the quarter ending December 31 2011. This figure showed a $ 398 million drop from the previous year’s $ 610 million.
It was a drop that James W Barge, chief financial officer, blamed on the recent legal battle with Harmonix.
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Source: GamesIndustry.biz – News
THQ is currently looking for a partner to bring its MMO Warhammer 40,000: Dark Millennium to market.
In a conference call to investors following the release of the company’s third quarter results, CEO Brian Farrell confirmed that the high costs of development are putting a burden on the project.
“While the game in development promises to be a high-quality consumer offering, because of the large financial commitment and associated risks, we are being realistic about our resources and we are actively seeking a partner for this compelling MMO,” he said.
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Source: GamesIndustry.biz – News
Activision Blizzard has appointed Humam Sakhini to the newly created role of chief strategy and talent officer.
“Bringing together our strategic planning and worldwide human resources responsibilities under Humam’s leadership underscores our commitment to talent recruiting, development and retention as a principal focus of the company,”said CEO Robert Kotick.
“This move will enable us to more closely link our strategic planning and business development initiatives with talent development to ensure we remain the preeminent destination for the most talented people working in interactive entertainment.”
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Source: GamesIndustry.biz – News
Swiss company Digital Capital has launched itself as a “funding vehicle” for digital games, offering funding to mobile, console and PC developers.
“With the growth of digital distribution there are so many opportunities for investors,” said co-founder and veteran business advisor Todd Tribell.
“Our focus will always be on quality, with the sole aim of bringing success to all of our partners – both developers and investors.”
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Source: GamesIndustry.biz – News
Konami has appointed Shinji Hirano as its new president of Europe.
Hirano was most recently president of the US business, and now overseas all European operations from headquarters in Germany.
“I am proud and delighted to have been given this challenge,” offered Shinji Hirano. “I am keen to support the diversity the European territories offer, and looking to ways our business can best support the different tastes and opportunities they possess.
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Source: GamesIndustry.biz – News
Saints Row publisher THQ has been threatened with delisting from the Nasdaq stock exchange.
The company has until July 23 for bid price of its stock to rise above $ 1 per share for a minimum of 10 consecutive days. Stock is currently valued at 70 cent per share and has fallen over four years from a high of $ 36.
The struggling company said last week that it intends to focus on the core gaming audience and shelved future ambitions in the kids’ market. Over the past two years it has canned numerous projects and cut staff significantly.
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Source: GamesIndustry.biz – News
Reports from America suggest that Facebook could be filing the S-1 for its $ 10 billion IPO as early as today,with an expected valuation somewhere between $ 75 billion and $ 100 billion.
According to the Wall Street Journal Facebook is aiming for the IPO between April and June, and papers will be filed this week.
The filing will reveal some of the financial workings behind the social networking giant.
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Source: GamesIndustry.biz – News
UKIE will fund the travel of selected students attending the Blitz Games Studios 2012 Student Open Days in March.
“We are delighted to be supporting the Blitz Games Studios Open Days as part of our commitment to the Livingstone Hope Skills review recommendations to help the UK’s games industry access the high quality graduates it needs to grow and innovate,” said UKIE CEO Jo Twist.
“We are long-standing admirers of Blitz’s policy of supporting games education and aspiring developers, and it’s a pleasure to be able to add our support in this way. We hope that this fund enables even more students to benefit from attending a Blitz Open Day.”
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Source: GamesIndustry.biz – News
