MCV/DEVELOP News, events, research and jobs from the games industry
Sony’s executives will retain their positions, following a vote by investors to decide the fate of several key staff members. The AP reports CEO and president Kazuo Hirai and other executives were heckled by multiple investors in attendance throughout the presentation. Hirai apologized for not being more proactive with making …
Read More »Game companies see rise in stock following strong retail results
Investors have responded kindly to the latest reported results at US retail, as game companies such as Activision Blizzard and Electronic Arts are seeing strong increases in share prices this week. Games Industry reports both Activison and EA hit 52-week highs on Tuesday. At time of writing, Activision was trading …
Read More »‘Lack of digital data is putting off investors’
Venture capitalists view investing in the digital games market as a throw of the dice”, says former Sega boss Mike Hayes. Hayes joined investment firm Mercia Fund Management in September with a remit to identify potential video game companies to invest in. And he admitted to MCV that the lack …
Read More »Activision Blizzard sued by shareholder over Vivendi buyback
Todd Miller, an Activison Blizzard shareholder, has filed a lawsuit over Activision’s recent purchase of Vivendi’s majority stake in the firm. GamePolitics reports Miller filed the suit against Activision, CEO Bobby Kottick, and the rest of the company’s board of directors for a breach of fiduciary duties, waste of corporate …
Read More »EA: Current-gen sports games pre-orders are "soft" owing to nearing next-gen
Publisher EA has predicted a slight dip in annual sales of its key sports IPs thanks to the upcoming transition to next-gen consoles. Furthermore, EA president and COO Peter Moore described pre-orders for current-gen EA Sports titles as soft” in a call with investors last night. We’re seeing softness, in …
Read More »PS4 announcement has roused investor interest, Pachter says
The long-awaited announcement of the first next-generation console has rejuvenated investor interest in core video games. That’s according to analyst Michael Pachter, who said in an investor note that the trend should grow stronger still once Microsoft finally unveils the successor to Xbox 360. "There appears to be some light …
Read More »Investment group buys 6% of Take-Two
The Citadel Investment Group upped its stake in Take-Two over the holidays, and now owns about six per cent of the Grand Theft Auto publisher. With GTA V on the horizon the group, owned by billionaire Ken Griffen, is not the only firm to take an interest in the company. …
Read More »THQ thrown lifeline by lenders as investment negotiations continue
Lender Well Fargo has agreed to extend the terms of its loan to THQ, giving the publisher a new January 15th deadline to meet its demands. Wells Fargo had previously threatened to default THQ after it failed to fulfil the conditions of its agreement. But as well as extending its …
Read More »Perlman remains OnLive CEO; Company debts had reached $30-40m
Serving OnLive CEO Steve Perlman will hold onto his position at the company despite its recent collapse and rebirth. The recent transition was the hardest thing we at OnLive ever had to go through in our careers,” a statement issued to fansite OnLive Fans reads. It’s unprecedented to do what …
Read More »Zynga attacks Facebook as analysts denounce firm as stock falls 40%
It was good while it lasted. The wheels appear to have fallen off Zynga’s bandwagon with stock in the company plummeting an unimaginable 40 per cent in the hours following its devastating financial report. So serious has its fall from grace been that COO John Schappert lashed out at Zynga’s …
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