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Dec 11, 2012

Warner Bros and MGM invest in social-gaming company Kabam

SAN FRANCISCO, Dec 11 (Reuters) – Warner Bros Entertainment
Inc and MGM Studios Inc have joined forces to invest an
undisclosed amount in the privately-held, social and mobile
gaming company, Kabam Inc, the games maker said on Tuesday.

San Francisco-based Kabam, which is known for its popular
“Kingdoms of Camelot” s trategy games that allow players to build
castles and battle troops in a medieval setting, competes with
gaming companies like Zynga Inc and Kixeye.

Nov 29, 2012

Sony’s PlayStation3 beats Nintendo’s Wii U over Black Friday

SAN FRANCISCO (Reuters) – Sony Corp sold over 525,000 PlayStation3 consoles in the United States during the week of Black Friday that kicks off the holiday shopping season, surpassing sales of Nintendo’s new Wii U.

Sony Computer Entertainment Inc said on Thursday that sales of its six-year-old PlayStation3 jumped 9 percent over the same period last year. The sales compared with over 400,000 units sold of Nintendo’s Wii U, the new console on which the Japanese company is staking much of its future.

Nov 26, 2012

Nintendo sells 400,000 Wii U consoles in first US week

Nov 26 (Reuters) – Nintendo Co Ltd sold more than
400,000 “Wii U” video game consoles in the United States in the
first week of its release, the games maker said on Monday.

Nintendo, which has gradually ceded ground to Microsoft
Corp’s industry-leading Xbox 360, needs the Wii U,
which comes with a touchscreen controller, to be a hit to turn
around years of losses.

Nov 21, 2012

Burglar of Steve Jobs’ house admits to eight break-ins

SAN FRANCISCO (Reuters) – A former salesman who lost his job and ended up homeless admitted in a plea deal on Wednesday to burglarizing Steve Jobs’ house and seven other homes in a crime spree capped by his break-in at the late Apple founder’s Silicon Valley residence.

In return for his plea of “no contest,” legally equivalent to a guilty plea in California, Santa Clara County prosecutors agreed to recommend that Kariem McFarlin, 35, be sentenced to no more than seven years and eight months in prison.

Nov 21, 2012

THQ says in talks with sponsor, CFO resigns

SAN FRANCISCO (Reuters) – Video game publisher THQ Inc (THQI.O: Quote, Profile, Research) said on Tuesday that it has entered into exclusive talks with a financial sponsor for potential financing alternatives.

The Agoura Hills, California-based company, which has cut staff and shut non-core businesses in an effort to revive its business, did not provide further details while negotiations were underway.

Nov 21, 2012

THQ says in talks with financial sponsor, CFO resigns

SAN FRANCISCO (Reuters) – Video game publisher THQ Inc (THQI.O: Quote, Profile, Research, Stock Buzz) said on Tuesday that it has entered into exclusive talks with a financial sponsor for potential financing alternatives.

The Agoura Hills, California-based company, which has cut staff and shut non-core businesses in an effort to revive its business, did not provide further details while negotiations were underway.

Nov 15, 2012

GameStop profit beats forecast; cautiously eyes holiday

SAN FRANCISCO (Reuters) – GameStop Corp, the world’s largest retailer of videogame products, reported a stronger-than-expected profit on Thursday but lowered its sales forecast for this year due to uncertainty around the holiday shopping season as the video game market struggles.

Grapevine, Texas-based GameStop forecast same-store sales in 2012 would drop 6 percent to 9 percent, compared with a 2 to 10 percent decline projected previously.

Nov 15, 2012

GameStop Q3 revenue drops, profits beat Street view

SAN FRANCISCO (Reuters) – GameStop Corp (GME.N: Quote, Profile, Research, Stock Buzz), the world’s largest retailer of video game products, said its sales dropped in the third quarter due to slowing videogame hardware and software sales.

It reported adjusted net earnings per share of 38 cents beating analysts’ expectations of 32 cents.

Nov 13, 2012

Icahn ups stake in video game maker Take-Two

Nov 13 (Reuters) – Activist investor Carl Icahn increased
his stake in video game publisher Take-Two Interactive Software
Inc to 12.9 percent from 11.69 percent, according to a
regulatory filing on Tuesday.

It is the fourth time since Nov. 5 that Icahn has scooped up
stock in Take-Two, known for its “Grand Theft Auto” game.

Nov 13, 2012

All eyes on Call of Duty after strong Halo 4 launch

SAN FRANCISCO (Reuters) – Microsoft Corp’s “Halo 4″ action-shooter video game delivered robust sales on its launch — a good sign for the flagging video game industry and setting up a tough battle with Activision Blizzard Inc’s latest “Call of Duty”.

As more gamers migrate from console gaming to mobile offerings on tablets and smartphones, the video game industry has seen revenues decline and the performance of both titles in the upcoming holiday shopping season and 2013 is being watched closely as a gauge of future demand for the sector.