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Google Picks Underwriters for IPO

Authored by Mark Hefflinger on April 27, 2004 - 3:07am.
Mountain View, Calif. -- Search engine giant Google has moved one step closer to its highly anticipated initial public offering, tapping securities firms Credit Suisse First Boston and Morgan Stanley as lead underwriters, The Wall Street Journal reported. Analysts predict that Google's IPO, expected to be one of the largest in U.S. history and potentially valuing the company at upwards of $25 billion, could generate investment-banking fees of up to $100 million. Details of the offering are expected to be released later this week.
tags: IPO | Google | Underwriters |

MusicNet, Cflix Offer Yale Students Discounted Digital Music Service

Authored by Mark Hefflinger on April 27, 2004 - 3:04am.
New York -- MusicNet, a digital music subscription service joint venture between Bertelsmann, EMI, RealNetworks, Sony and Warner, announced on Tuesday that it has partnered with Cflix, a campus video-on-demand provider, to launch a two-month pilot legal digital music service program at Yale University. MusicNet will power Cflix's Ctrax service, which will offer subscriptions for $2 per month, and downloads in packs of 10 for $8 and 20 for $15. "This will revolutionize the way the music world interacts with college students," said MusicNet CEO Alan McGlade. "Cflix's reputation for delivering rich media to colleges coupled with MusicNet's digital music platform and extensive catalog will assure a great product offering." The companies said that as many as 20 colleges and universities will be rolling out the Ctrax service for the fall of 2004. MusicNet rival Napster has launched similar discounted campus digital music services at schools including Penn State University.
tags: MusicNet | Digital Music | Cflix | Yale | Discount |

Olsen Twins Sue Game Maker Acclaim Over Unpaid Royalties

Authored by Mark Hefflinger on April 27, 2004 - 3:02am.
Glen Cove, N.Y. -- Child actors turned entertainment and clothing moguls Mary-Kate and Ashley Olsen have filed suit against video game developer Acclaim Entertainment, alleging the company has not paid out hundreds of thousands of dollars in royalties from a series of games featuring the twins. CelebrityJustice.com posted the complaint, in which the Olsens say Acclaim did not remit nearly $178,000 that was due April 1. The lawsuit, filed in Los Angeles Superior Court on April 15, seeks damages and interest and also alleges that Acclaim has not made a strong enough effort to market the titles.
tags: Games | Law | Olsen Twins | Royalties |

Game Publisher THQ to Acquire Vancouver-Based Developer Relic

Authored by Mark Hefflinger on April 27, 2004 - 2:59am.
Calabasas Hills, Calif. -- Video game publisher THQ announced on Tuesday that it has signed an agreement to acquire Vancouver-based PC game developer Relic Entertainment. Details of the all-cash transaction, expected to close on May 1, were not disclosed. THQ and Relic previously worked together on Relic's upcoming "Warhammer 40,000: Dawn of War." Relic has also released other real-time strategy PC titles including "Homeworld" and "Impossible Creatures." "We are confident that Relic's extremely talented teams of designers, programmers and artists will solidify THQ's position as a leading publisher of PC and console entertainment," said THQ executive vice president of worldwide studios Jack Sorensen.
tags: Games | THQ | Deal | Relic |

Immediatek Acquires Instant Concert CD Distributor DiscLive

Authored by Mark Hefflinger on April 27, 2004 - 2:54am.
Richardson, Texas -- Immediatek, a developer of secure CD-burning technology, announced that it has acquired New York-based DiscLive, creator of a service that records live music concerts and then sells CDs of the performances directly following the show. Financial terms of the transaction were not disclosed. Texas-based Immediatek said it will offer DiscLive artists the ability to release copy-controlled CDs and consumers the ability to have CDs ordered through DiscLive's website downloaded immediately through its NetBurn technology. The companies expect DiscLive's summer concert operations -- which include releases of shows from the Pixies reunion tour -- to generate $500,000 in revenues. Other artists using the service include Billy Idol and Antibalas.
tags: Music | Concert | Acquisition | DiscLive | Immediatek |

Norwegian Game Developer Funcom Raises $5.4 Million

Authored by Mark Hefflinger on April 27, 2004 - 2:51am.
Oslo, Norway -- Norwegian console and PC game developer Funcom announced on Tuesday that it has received a $5.4 million equity investment from new investor Northzone Ventures, and existing investors Teknoinvest and Stelt Holding. Funcom mainly develops massively multiplayer online games, including "Anarchy Online," and said it is currently at work on three such titles. The company will use the funds to increase the scope and quality of future games, while expanding its global sales and marketing initiatives.
tags: Games | Funcom | Norwegian |