14 DAY TRIAL // Yesterday, we brought to you the news that SCi Entertainment was facing a possible hostile takeover, with an NBC offer of 100 million dollars and with Warner Bros. being interested in acquiring the company, too. The SCi board has released a statement saying that the company is not for sale at any price, but it seems that, meanwhile, things have changed a little.
In what could be part of a takeover (but there is a big possibility it is exactly what SCi says - fund raising), website Gameindustry reports that SCi and Warner Bros. have announced a partnership between the two companies, with the latter subscribing for up to $30 million new shares in the company. Warner Bros. will then distribute future SCi games in the US, Canada and Mexico.
"Today we have significantly strengthened our relationship with Warner Bros. - one of the world's largest media groups - to create an exciting strategic partnership, giving us increased scale in the North American market, to the benefit of all our major franchises," said SCi CEO Phil Rogers. "The new financing puts us in a clear position to deliver on the strategic business plan which we announced in February with focus on cornerstone studios and core franchises, delivering high-quality, world class games."
SCi also predicts a $120 million fund raising for their 171,605,424 new shares in the company placed for open offer, at 35 pence each. This would further mean that the company will have a substantial cash balance, in addition to its new $50 million debt facility.
Also, their projects seem very promising and able to bring the profit they need, with Tomb Raider: Underworld going as planned - the worldwide release date remaining unchanged (before Christmas 2008). Eidos, the main creative force of SCi, is working on the third installment in the Deus Ex series, while rumors regarding a new Thief game have started to surface the web. So the future looks good for SCi.