Archives

Date

Vivendi Universal Revenues Drop 4% on Poor Music Sales

Authored by Mark Hefflinger on May 5, 2004 - 3:15am.
Paris -- French media and entertainment conglomerate Vivendi Universal this week reported a 4% drop in first-quarter sales, a performance that slightly exceeded most analysts' expectations. The company attributed the results to the stronger-than-expected performance of its telecommunications subsidiary, which offset a poor showing by its entertainment unit. Revenues dropped from $7.55 billion in the first quarter of last year to $7.24 billion for the three months ended March 31. SFR, the company's telecommunications business and currently the No. 2 mobile operator in France, reported a 14% increase in revenues to more than $2.4 billion, largely beating analysts' expectations. The company said the relative weakness of the U.S. dollar and changes in its corporate structure impacted overall sales as well.
tags: Music | Vivendi Universal | Revenues |

Apple Sells 3.3 Million iTunes Song Downloads in One Week

Authored by Mark Hefflinger on May 5, 2004 - 3:13am.
Cupertino, Calif. -- Apple announced on Wednesday that users have purchased and downloaded 3.3 million songs from the third generation of its iTunes Music Store since its launch a week ago. The company said that an additional 500,000 free tracks were downloaded in the past week as part of Apple's "Free Song of the Day" promotion for iTunes' one-year anniversary. Apple said that over 70 million songs were purchased in the first year of the online store's operation.
tags: Downloads | Music | Apple | iTunes |

Group Led by Al Gore Buys Cable News Channel

Authored by Mark Hefflinger on May 5, 2004 - 3:10am.
Washington, D.C. -- Vivendi Universal Entertainment announced that it has sold its cable news channel, Newsworld International, to an investment group led by former Vice President Al Gore. Financial terms of the deal were not disclosed. Newsworld currently is produced by the Canadian Broadcasting Corp. and accessible by about 17 million North American households. The TV network will be renamed IndTV and target an audience in the 18-35 age group. Gore will serve as chairman of the board and reportedly plans to devote most of his time to the network. Joel Hyatt, an entrepreneur and former finance chairman for the Democratic National Committee, will serve as the network's CEO.
tags: Cable | Al Gore | Groups | News Channel |

AOL Launches Video Games Site for Broadband Users

Authored by Mark Hefflinger on May 5, 2004 - 3:06am.
Dulles, Va. -- America Online on Wednesday launched a new broadband games service for its AOL for Broadband subscribers, which will offer titles from publishers including TryMedia, GameHouse and Funkitron. The site will also offer video game news and reviews from GameSpot, and discounts on titles purchased through retailer Electronics Boutique. AOL said the new titles being offered -- such as "Scrabble" and "Daily Jigsaw" -- appeal to women, who represent the largest share of online gamers. "It's vitally important strategically that we continue to grow the AOL for Broadband service," Matthew Bromberg, vice president and general manager of AOL Games, told Reuters. "Nothing is more popular with broadband users than games."
tags: Broadband | AOL | Website | Video Games |

Game Publisher Acclaim to Restate Earnings; Secures New Credit Facility

Authored by Mark Hefflinger on May 5, 2004 - 3:03am.
Glen Cove, N.Y. -- Video game publisher Acclaim Entertainment announced on Wednesday that it will restate its financial results for 2001-2003 after discovering a $9.5 million error in its books. The company also said that its primary lender, GMAC, will provide an additional $3 million to Acclaim, and announced that it is securing a $22.8 million asset-based credit facility with a new primary lender to replace the GMAC facility, which will terminate in June. Recently, New York-based Acclaim was sued by child actors turned media and fashion moguls Mary-Kate and Ashley Olsen, over a series of games that uses the twins' names and likenesses.
tags: Games | Acclaim | Restate | New Credit |

THQ Wireless Buys Controlling Stake in Swiss Mobile Firm Minick

Authored by Mark Hefflinger on May 5, 2004 - 3:02am.
Calabasas Hills, Calif. -- THQ Wireless, the mobile games unit of the video game publisher, announced on Wednesday that it has acquired a controlling interest in Swiss mobile games, applications and billing software provider Minick. Financial details of the transaction were not disclosed, although the companies have been partners for two years and THQ already held a 25% stake in the company. Minick has created SMS, EMS and MMS messaging, information, multimedia and voting applications for customers including T-Mobile, Telefonica, MTV, Channel 4 and Universal Music.
tags: Swiss | Mobiles | THQ Wireless | Stakes | Minick |

Mobile Game Publisher Mforma Acquires MobileGame Korea

Authored by Mark Hefflinger on May 5, 2004 - 2:59am.
Kirkland, Wash. -- Mobile entertainment publisher Mforma Group announced on Wednesday that it has acquired MobileGame Korea (MoGame), a developer and publisher of mobile games in Korea. Financial terms of the transaction were not disclosed. The deal follows a two-year collaboration between Kirkland, Wash.-based Mforma and MobileGame Korea, which will now be known as Mforma Korea. The division will aggregate content from hundreds of developers in Korea for Mforma to distribute to wireless carriers in China, Europe, and the U.S., as well as continue to distribute Mforma titles from around the world in the Korean marketplace.
tags: Games | Mobile | Mforma | Korea | MobileGames |