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Poor Sales, Takeover Rumors Send Game Developer Eidos' Shares 32% Lower

Authored by Mark Hefflinger on May 21, 2004 - 7:47am.
London -- Shares in U.K.-based video game publisher Eidos plummeted by nearly a third on Thursday after the company warned investors that sales of "Hitman: Contracts" -- the company's biggest game of the year -- would not meet targets. The company, which has been taking pains to quell recent rumors that it is the subject of a takeover bid, attributed the poor sales to "recent and unexpected softness" in the U.S. games market. Such "softness" could hit the company hard, lowering operating profits this year by as much as 9 million pounds ($16.1 million), Eidos said. While Eidos shares reached a 52-week high of 184 pence on Monday, they closed 32% lower at 120.50 pence on Thursday after the company denied a rumored takeover bid. In a statement, the board of directors announced that it had "received no such approach" and that it was currently "not in discussion with any party concerning a possible offer".
tags: Games | Eidos | Takeover Rumors | Poor Sales |

New Italian Law Provides Jail Time for P2P File-Swappers

Authored by Mark Hefflinger on May 21, 2004 - 7:46am.
London -- Italian legislators have passed a law that imposes penalties of up to three years in jail, and fines of up to $1,240, for anyone found to be uploading or downloading unauthorized copyrighted materials on peer-to-peer file-sharing services, The Register reported. The penalties extend existing Italian copyright laws, which previously only targeted those who profit financially from their actions, to include anyone who uploads or downloads unauthorized files, regardless of motive. In addition to jail time and fines, Italian P2P users will face confiscation of their hardware and software, although the Italian Senate has agreed to further debate and reconsideration of all of the penalties.
tags: Law | P2P | File-Swappers | New Italian |

Report: Mobile Entertainment to Generate $8 Billion in Europe by 2008

Authored by Mark Hefflinger on May 21, 2004 - 7:44am.
London -- Mobile consumer applications like video games, ringtones, video and music will drive the take-up of data and generate traffic and revenues for mobile operators of just under $8 billion in Western Europe by 2008, according to a new study from market research firm IDC. Operators including Vodafone, O2 and DoCoMo have already launched some video and music services in Europe, although IDC notes that video and especially music streaming or downloading services will take a bit longer to deploy than did ringtones or mobile games, which are already extremely popular. "This underlines that the wireless industry will not see the one killer application that many are still seeking and talking about," said IDC senior analyst Paolo Pescatore. "All these applications -- ring tones, gaming, video, and music -- will eventually find their place on a mobile. Clearly operators need to start marketing and selling mobile data services, which is something they have not been used to, as previously voice sold itself."
tags: Europe | Reports | Mobile Entertainment | Generate |

IFPI, Greek Police Jail Man for Three Months for Buying Two Pirate CDs

Authored by Mark Hefflinger on May 21, 2004 - 7:44am.
London -- A new crackdown on tourists who buy pirated CDs from street vendors in Greece was recently launched by the International Federation of the Phonographic Industry (IFPI), with a man being arrested and jailed for three months after buying two CDs from a vendor in Athens last week, the BBC reported. The new focus on buyers of pirate CDs in Greece, which has the worst piracy rate in western Europe, comes as the country prepares for an influx of tourists during the Olympics this summer. "This is not a symbolic measure. We are determined to prosecute the buyers and we have the support of the authorities," IFPI spokesman Ion Stamboulis told the BBC. "Until now, we were focusing on the sellers, but Greek courts generally hand them light suspended sentences and they resume their trade as soon as they are released."
tags: IFPI | CDs | Pirate | Greek Police | ail Man |

GameSpot Editors Name "Best of E3" New Video Game Titles

Authored by Mark Hefflinger on May 21, 2004 - 7:42am.
San Francisco -- GameSpot, a video games site operated by CNET Networks, on Friday announced its "Best of E3" Awards, recognizing the most impressive and anticipated new titles on display at last week's Electronic Entertainment Expo video game industry trade show. Developer Ubisoft's "Tom Clancy's Splinter Cell 3" took both the titles of "Best Game of the Show" and "Best PC Game," and Gameloft's mobile version of the title also won the award for "Best Mobile Game." Sony's own "God of War" was named "Best PS2 Game," while Microsoft's "MechAssault 2: Lone Wolf" won for "Best Xbox Game." GameSpot's editors also recognized Capcom's "Resident Evil 4" as "Best GameCube Game" and Nintendo's "The Legend of Zelda: The Minish Cap" as "Best Game Boy Advance Game."
tags: GameSpot | Video Games | Titles | Best of E3 |

SportsLine.com Seeking "Strategic Alternatives," Engages Investment Bank

Authored by Mark Hefflinger on May 21, 2004 - 7:42am.
Fort Lauderdale, Fla. -- Saying that its current share price does not reflect the true value of the company, Florida-based SportsLine.com, a provider of online sports-related content, said that it has engaged the investment bank Perseus Group to help explore strategic alternatives for the company. "We believe that Perseus Group will provide valuable assistance in evaluating strategic alternatives in a variety of areas, including our future Viacom commitments," said Michael Levy, chairman and CEO of SportsLine.com. The company publishes CBS SportsLine.com, as well as the official websites of the NFL, PGA TOUR and NCAA Sports.
tags: Website | SportsLine.com | Strategic Alternatives | Investment Bank |