NEW YORK, March 15 (Reuters) – THQ Inc’s (THQI.O: Quote, Profile, Research, Stock Buzz) shares
fell more than 20 percent after one of its highly anticipated
video games received negative reviews as it hit stores on
THQ’s shares plummeted 20.5 percent, or $1.23, to $4.73 in
afternoon trading on the Nasdaq.
Believe it or not, there were crowds gathered on Friday doing something else besides waiting for an iPad 2. About 60,000 people swarmed Boston for Penny Arcade East, a major convention for video game fans on the East Coast.
PAX doesn’t garner as much media attention as industry shows like E3 in Los Angeles each summer, where major games companies announce new products. While there aren’t as many reporters or or executives in attendance, PAX EAST is still a big event for gamers- the hoards of people who help make the $60.4 million video game industry bigger than Hollywood.
Blizzard Entertainment, the publisher of World of Warcaft and StarCraft 2 (Korea’s national past time) turns 20 this year. In February 1991, three UCLA grads, Allen Adham, Frank Pearce, and Mike Morhaime founded a publishing company called Silicon & Synapse. Based in Irvine, California, it would later go on to be known as Blizzard Entertainment and crank out $1.65 billion in revenue 2010.
Here are some highlights of an interview on Monday with two of three founders, Pearce and Morhaime, as well as Activision Blizzard’s CFO Thomas Tippl. Here’s a video the company made to celebrate.
SAN FRANCISCO/NEW YORK, March 7 (Reuters) – Internet
entrepreneur Art Norins was sick of the nonstop phone calls and
e-mails from people seeking to buy shares of his company.
After 12 months of hassling, the last straw came when an
Indian call-center worker claiming to represent funds seeking
investments in tech startups rang him.
NEW YORK, March 2 (Reuters) – Media companies are bracing
for a big revenue hit from a possible lockout by the National
Football League but hold out hope that college football and
other prime-time shows could pick up the slack for lost
Team owners are currently in collective bargaining
negotiations with the NFL Players Association over salary caps
and a range of related issues to replace a contract that
expires at midnight on Thursday. It could potentially shut down
the NFL for some or all of the 2011 season.
NEW YORK (Reuters) – Digital video recorder maker TiVo Inc (TIVO.O: Quote, Profile, Research, Stock Buzz) reported a wider quarterly loss as its expenses rose and it forecast a rise in research and development costs.
For the first quarter of 2012, the company said its net loss would be in the $35 million to $37 million range.
Zynga wants to get into your pocket. As the publisher of games like, “Word with Friends,” a Scrabble-clone popular on Apple devices and since February, on Android platforms, Zynga, known as the top games publisher on Facebook, is likely trying to reduce its reliance of Mark Zuckerberg and co’s platform.
“You should play and you should pay,” says David Ko, the former Yahoo executive who moved to Zynga in November to spearhead its mobile push.
Is Rupert Murdoch coming for Zynga? On Friday, Murdoch’s media conglomerate News Corp said it wants to recruit developers for its social game publishing division called “Making Fun.”
To be sure, Making Fun is no Zynga. It is a tiny company that was acquired quietly in November by News Corp according to the LA Times. Making Fun’s bare bone website has a lofty vision–to finance and publish games across platforms like smartphones, tablets, social networks and Internet TVs. Under News Corp, three publishing deals have been struck –it is unclear with whom because they failed to put in the release — and the first games will land this summer.
NEW YORK (Reuters) – Satellite television provider Dish Network Corp’s posted deeper-than-expected subscriber losses for the fourth quarter as many customers canceled service after a dispute with Fox Network in October blacked out sports programs.
The second-largest U.S. satellite TV provider lost 156,000 subscribers in the quarter. Barclays analyst James Ratcliffe had expected Dish to lose 10,000 subscribers.
NEW YORK, Feb 17 (Reuters) – Intuit Inc (INTU.O: Quote, Profile, Research, Stock Buzz), the maker
of TurboTax and QuickBooks accounting software, reported a
profit that beat Wall Street expectations and raised its
quarterly earnings forecast, sending its shares up 2 percent.
The company estimated third-quarter adjusted earnings of
$2.22 to $2.30 per share. The high end of that range is above
the $2.24 per share analysts were expecting.