Warner Builds Stake in Eidos
December 15th, 2008, 9:42 am by David Chapman (No Comments)Back in October, we reported that Warner Bros., looking to increase its stake in video game publisher Eidos, was cleared by Eidos investors to pick up more stoke in the ailing company. Not long after, the rumor mill started grinding hard with talks of different companies eying the home of Tomb Raider for a potential buyout. Today, word coming out of Warner is that it decided to exercise that stock purchase agreement to purchase another 10 million shares in Eidos, bringing its total stake to 52.5 million shares, about 20 percent of the total company.
Back when it first invested in Eidos (then SCi Entertainment), Warner was originally subject to a contract restricting the number of shares it could own until early 2009. SCi then loosened the stock restrictions somewhat, opening things up further for Warner, so long as the total stake in the company remained under 30 percent through 2008.
Warner’s increased stake in Eidos, at least on paper, looks to be a win/win situation for the media giant. With rumors of at least three other publishers vying for control of Eidos, Warner is in prime position to either take control of Eidos at a fraction of the cost as the other suitors, sell off its stake in the company for a profit, or simply sit back and rake in the dividends regardless of where Eidos eventually ends up.
Canada’s Festival Arcadia video game event will play host to a ‘Virtually Fashionable’ fashion show Saturday, November 8th, at the Society for Arts and Technology. The event will merge the fashion and video game industries, as ten of Quebec’s best-known fashion designers will be crafting costumes for gaming icon Lara Croft. Two of these outfits will be incorporated into Lara’s official wardrobe as downloadable content for
Could the folks at Warner Bros. soon have Lara Croft as their exclusive spokesperson?
Who says exclusives don’t mean anything these days? Certainly not Eidos or Microsoft, as the two companies announced today that they’ve entered into an agreement to release two exclusive downloadable chapters to the 360 version of Lara Croft’s upcoming adventure,
Here is all the coverage from the first day of the