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BUSINESS
December 20, 2001 | Alex Pham
Electronic Arts Inc. has quietly canceled "Majestic," an online computer game that debuted this summer amid much fanfare but since has garnered just 15,000 players. Officials of the nation's largest independent game publisher confirmed that "Majestic" will be discontinued in mid-2002. In October, EA said it would cease signing up new players on the Internet, but would start selling a boxed retail version of the game.
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BUSINESS
May 11, 2010 | By Alex Pham, Los Angeles Times
Electronic Arts ended a three-year string of losses by posting higher sales and a return to profitability in its fourth quarter, fueled by sales of Battlefield: Bad Company 2, Mass Effect and Dante's Inferno. Sales shot up 14% to $979 million in the quarter ended March 31, shifting the game publisher to a $30 million profit compared with a $42-million loss a year earlier. It earned 9 cents a share, up form a per share loss of 13 cents last year. Other game companies recently also have reported an uplift in their financial health after being hammered in 2009 as consumers sealed their wallets.
BUSINESS
December 16, 2011 | By Alex Pham, Los Angeles Times
The gig: Frank Gibeau is president of EA Labels, a division of Electronic Arts Inc. that produces the Redwood City, Calif., game company's top franchises, including Madden NFL, Need for Speed, The Sims and Star Wars: The Old Republic — its most ambitious and costly title ever. The break: After Gibeau graduated from USC in 1991 with an undergraduate degree in business and international relations, he broke a leg when a stairway collapsed, pinning his leg beneath a block of concrete for nearly an hour.
BUSINESS
February 4, 2009 | Alex Pham
Electronic Arts Inc. has hit the reset button on its video game business. The publisher of such franchises as the Sims and Madden NFL posted a deeper quarterly loss Tuesday. It also said it would cut 100 more jobs and close three more facilities than announced in December because of disappointing holiday sales. The Redwood City, Calif., company now plans to shed 11% of its workforce, about 1,100 people, from the payroll this year and shut down a dozen facilities.
BUSINESS
November 3, 2010 | By Alex Pham, Los Angeles Times
With fewer titles released this year, Electronic Arts Inc. on Tuesday posted a 20% revenue drop in its second quarter compared with a year earlier. At the same time, the Redwood City, Calif., video game publisher sliced its net loss in half thanks to aggressive cost cutting and a shift to fewer, more profitable franchises. The developer of Madden football and FIFA soccer titles posted $631 million in revenue for the quarter ended Sept. 30, down from $788 million a year earlier.
BUSINESS
February 17, 2005 | From Associated Press
French video game maker Ubisoft Entertainment and U.S. rival Electronic Arts Inc. said they were in discussions, prompting speculation that the French company could be an acquisition target. "I would not say there's negotiations taking place, but we are having the kind of dialogue that you would expect of a large shareholder with the company," said Jeff Brown, a spokesman for Redwood City, Calif.-based Electronic Arts, a major shareholder in Ubisoft.
BUSINESS
July 13, 2011 | By Alex Pham, Los Angeles Times
Electronic Arts Inc. has agreed to purchase PopCap Games Inc., the maker of Bejeweled and other popular games for mobile phones and social networks, in a deal valued at as much as $1.3 billion. The game industry giant said Tuesday that it would pay $650 million in cash plus $100 million in stock for PopCap. In addition, EA agreed to pay as much as $550 million should PopCap meet certain profitability milestones over the next three years. Although long a dominant force in console gaming, EA has made a series of acquisitions to bolster the company's presence in the growing market for games played on social networks and mobile phones.
BUSINESS
April 22, 2008 | From Times Wire Services
Electronic Arts Inc., the Redwood City, Calif., video game-maker seeking to acquire Take-Two Interactive Software Inc., was sued by an investor who seeks a vote on a proposal that he said would give shareholders more power. The suit, filed by Harvard Law School professor Lucian Bebchuk in U.S. District Court in New York, seeks an order requiring the company to submit a proposed bylaw amendment to a shareholder vote. The change would require Electronic Arts to "include in its annual proxy materials proposals submitted by large shareholders."
BUSINESS
March 27, 2007 | From Bloomberg News
Electronic Arts Inc. formed a record label that will promote new artists by putting their music in games. Artwerk will be based in Los Angeles and owned jointly with music company Nettwerk One Music, Redwood City, Calif.-based Electronic Arts said. Video game makers pay royalties to labels, publishers and artists for use of music in games or hire musicians to create soundtracks. Signing artists will reduce royalty costs and provide new revenue from the sale of CDs and digital music products.
BUSINESS
February 27, 2007 | From Times Staff and Wire Reports
Electronic Arts Inc. on Monday named former President John Riccitiello to succeed Chief Executive Larry Probst. EA said Riccitiello would take over April 2. The world's largest video game publisher, EA is known for such series as the "Madden" football franchise and "The Sims." Probst -- widely criticized for allowing EA to rely largely on sequels to hits instead of encouraging innovative new games -- has been seeking to step down for some time.
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