Unlike many of us, media executives know what it’s like to play around with large wads of cash. So it seemed natural to ask them about what kind of investment opportunities they’re seeing when they gathered in New York this week for the Reuters Global Media Summit.
from Summit Notebook:
Restructuring: You shouldn't be afraid to do it, even more than once if you have to, and even if your own family doesn't understand it. Just ask John Riccitiello, chief executive of videogame publisher Electronic Arts. Here's what he said at the Reuters Global Media Summit on Tuesday:
Video game publisher Electronic Arts will report first-quarter earnings after the bell today, amid Wall Street’s hopes of an industry comeback in the second half of the year. June video game sales in the U.S. were pretty dismal, but investors are probably betting on big-name game titles and possible game console price cuts to pump some life back into the slump in the second half of 2009.
In the highly demanding (and some say shrinking) world of PC gaming, only two graphics powers really count: reigning popular champ Nvidia and AMD’s ATI division. Now it looks like ATI’s Radeon may have got a bit of a lead on its arch-foe.
Wednesday’s announcement that celebrated game designer Will Wright is parting company with Electronic Arts is the latest piece of tough news in what has been a difficult year for EA. Wright, who masterminded the “Sims” franchise along with the newer “Spore”, is a certifiable legend who has been called the the “Albert Einstein of the gaming business.”
Microsoft's videogame chief Shane Kim came by our New York office this morning for the Reuters Media Summit and shared his thoughts on XBox 360 sales ("cautiously optimistic") and the outlook for the gaming industry amid the economic doom-and-gloom ("Who knows, maybe flat performance will be considered a remarkable achievement").