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BUSINESS
April 18, 2003 | Alex Pham, Times Staff Writer
Will Sonic the Hedgehog team up with Pac-Man? Sega Corp., maker of "Sonic" video games, got a last-minute merger bid on Thursday from Namco, creator of "Pac-Man." Sega accepted a merger proposal in February from Sammy Corp., a Japanese maker of casino slot machines. The merger was to be completed next month. Namco's proposal, terms of which were not released, may spark a bidding war for Sega, which has roughly $1 billion in liabilities and posted operating losses three of the last five years.
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BUSINESS
April 18, 2003 | Alex Pham, Times Staff Writer
Will Sonic the Hedgehog team up with Pac-Man? Sega Corp., maker of "Sonic" video games, got a last-minute merger bid on Thursday from Namco, creator of "Pac-Man." Sega accepted a merger proposal in February from Sammy Corp., a Japanese maker of casino slot machines. The merger was to be completed next month. Namco's proposal, terms of which were not released, may spark a bidding war for Sega, which has roughly $1 billion in liabilities and posted operating losses three of the last five years.
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BUSINESS
March 1, 2003 | From Reuters
Japanese video game publisher Sega Corp. said it would cut 20% of its staff, or about 90 jobs, at its U.S. headquarters in San Francisco as it reorganizes its North American operations ahead of a planned merger. Sega, which is in the process of combining with Japan's Sammy Corp., said it would organize its North American operations into three units under the umbrella of Sega Holdings.
BUSINESS
May 8, 2003
* Sega Corp., Japan's biggest maker of arcade video games, and pinball machine maker Sammy Corp. nixed their planned merger after failing to agree on management control and other issues. * Walt Disney Co. is extending its consumer electronics line to include a television, DVD player, clock radio and other products, adding to a cordless phone and walkie talkie it introduced last year. * Goodyear Tire & Rubber Co.
BUSINESS
May 9, 2003 | From Bloomberg News
Shares of Sega Corp., Japan's biggest maker of arcade video-game machines, fell as much as 9% on the Tokyo stock market today after rival game maker Namco Ltd. and Sammy Corp. scrapped proposals to merge with the creator of Sonic the Hedgehog. Sega and Sammy, a maker of pachinko slot machines, ended talks after executives failed to agree on merger terms or a name for the new company, Sammy President Hajime Satomi said.
BUSINESS
May 19, 2004 | From Associated Press
Sega Corp., the video game maker famous for Sonic the Hedgehog, and pinball equipment maker Sammy Corp. said Tuesday that they would integrate their operations under a new holding company that would become Japan's biggest video game software company. Sega and Tokyo-based Sammy will form the new company by Oct. 1. It will be 72% controlled by current Sammy shareholders, the companies said. Their combined group annual sales are about $3.
BUSINESS
December 9, 2003 | From Associated Press
Sammy Corp., a major Japanese pachinko pinball-machine maker, said Monday it plans to buy a 22.4% stake in Sega Corp. to become the largest shareholder in the video game software maker. The announcement comes after talks between Sega and Sammy over a possible tie-up fell through in May. Similar talks between Sega and rival game maker Namco also broke down in May. Sammy will spend $419 million to buy the stake from CSK Corp.
BUSINESS
November 17, 2003 | Alex Pham, Times Staff Writer
Sammy Studios Inc. is the latest video game developer to go Hollywood. The Japanese maker of slot machines and arcade games is expected to announce today a studio in Sherman Oaks. Other game companies that in recent months have opened offices in Southern California include Electronic Arts Inc. and Konami Corp. The company is the U.S. arm of Sammy Corp., a Tokyo-based firm that last year offered to buy game publisher Sega Corp.
BUSINESS
May 28, 2003 | Alex Pham, Times Staff Writer
Sega Corp.'s president said the Japanese video game company is discussing a joint venture with rival Electronic Arts Inc. to distribute games in North America. "We will consider forming a sales joint venture in the United States if necessary," Sega's new president, Hisao Oguchi, told Reuters on Tuesday in Tokyo. He said Sega was weighing a proposal by Redwood City, Calif.-based EA, but did not elaborate. EA, maker of the popular "Madden" series, did not reply to requests for comment.
BUSINESS
May 20, 2003 | From Associated Press
Japanese video game maker Sega Corp., which has seen talks collapse on two proposed alliances recently, returned to profitability for the fiscal year just ended despite faltering sales. Sega, which makes the Sonic the Hedgehog games, posted a profit of $26 million, or 3.05 billion yen, for the year ended March 31, a reversal from the 17.8-billion-yen loss racked up a year earlier, the Tokyo-based company said. Sales fell 4% to $1.7 billion.
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