September 11, 2001 |
Video game publisher Interplay Entertainment Corp., which in May announced talks with a potential buyer, is expected today to unveil substantial changes to its board of directors and an overhaul of its senior management. The restructuring of the Irvine maker of titles such as "Baldur's Gate" comes weeks after French game publisher Titus Interactive increased its ownership of Interplay to a controlling 51% from 34%.
August 28, 2001 |
The French company that owns unprofitable video-game maker Interplay Entertainment Corp. said Monday it has granted exclusive rights to sell the Irvine company's new games to Vivendi Universal SA so that Interplay can focus on game creation. Titus Interactive, which owns 51.5% of Interplay, said the unit will probably save about $10 million a year as a result of the contract, which will allow it to trim marketing and distribution expenses.
August 23, 2001 |
The big investment that a French video game maker made in money-losing Interplay Entertainment Corp. in Irvine is hurting its earnings. Titus Interactive said a first-half loss at Interplay will significantly affect earnings for its fiscal year, which ended June 30, and that the company probably won't post a profit until the end of the its fiscal year next June. Shares of Titus, which owns 51.5% of Interplay, have lost 58% of their value this year in the Paris stock market.
August 21, 2001
Video game maker Interplay Entertainment Corp., now controlled by a French company, said Monday that delays and failures to release any major titles this year has helped push its second-quarter loss to $12.4 million, or 34 cents a share. In the second quarter of last year, the Irvine firm, 51.5% owned by Titus Interactive SA, lost $1.9 million, or 7 cents a share. It has lost money in 10 of the past 11 quarters.
August 17, 2001 |
Titus Interactive SA, a French video-game maker, said Thursday it gained majority control of Irvine-based video-game publisher Interplay Entertainment Corp. by raising its stake in the U.S. company to 51.5%. Titus boosted its 49.6% stake in Interplay on Monday after converting 336,000 bonds into 6.7-million shares. It now holds 27-million shares of Interplay as well as 383,354 more convertible bonds. Interplay has lost money in nine out of the last 10 quarters.
June 6, 2001 |
French video-games maker Titus Interactive SA said Tuesday it has initiated talks to sell its 34% stake in Interplay Entertainment Corp., the Irvine software game maker now in talks to be sold. Titus said in a press release that its retail subsidiary Virgin Interactive will continue to distribute Interplay products in Europe. In the U.S., distribution has been assured for the past weeks by Titus' own local teams. The Paris company, which lost $23.