Merger

New York Times: Microsoft Increases Bid for Yahoo

Authored by Ned Sherman on May 2, 2008 - 10:39am.

Sunnyvale, Calif. - Hoping to avoid a messy proxy battle, Microsoft has increased its bid for Sunnyvale-based Yahoo by "several dollars," The New York Times reported on its web site late Friday. Specific financial terms being discussed have not been disclosed, though Microsoft reportedly has raised the possibility of increasing its current $29.30-per-share offer to as much as $33.

Elevation Partners Invests $300 Million in Merger of BioWare, Pandemic Studios

Authored by Mark Hefflinger on November 3, 2005 - 3:39am.

Menlo Park, Calif. - Elevation Partners, a venture capital firm whose principals include U2's Bono and former Electronic Arts president John Riccitiello, announced on Thursday that it has invested $300 million into the merger of two independent game developers, BioWare and Pandemic Studios. The deal will create a new holding company, BioWare/Pandemic Studios, which will be jointly owned by the three companies and headed by Elevation Partners managing director John Riccitiello. Based in Los Angeles and Brisbane, Australia, Pandemic will continue to develop action/adventure titles like "Full Spectrum Warrior," "Star Wars Battlefront" and "Destroy All Humans," while Edmonton, Canada-based BioWare will maintain focus on roleplaying titles such as "Baldur's Gate" and "Neverwinter Nights." "Great video games don't roll off the assembly line -- they are an art form, as lovingly crafted as a film, musical score, or novel," said BioWare CEO Greg Zeschuk. "Fans are the real winners in this deal, because we will now have the resources and creative discretion to make the right decisions for our products." Immediate plans for the funds are to utilize them in the development of titles for next-generation game consoles.

tags: Pandemic | Merger | BioWare | Elevation |

Merger of Game Retailers GameStop, Electronics Boutique Given OK

Authored by Mark Hefflinger on June 9, 2005 - 10:19am.

Grapevine, Texas -- Video game retailer GameStop Corp. announced on Thursday that its proposed $1.44 billion merger with fellow retailer Electronics Boutique will go ahead, following the expiration of the waiting period under the Hart-Scott-Rondino Antitrust Improvements Act. The merged company will operate a total of 3,800 stores worldwide, and account for an estimated 20-30% of the total video game retail market. The deal must still be approved by both companies' shareholders, but is expected to close in the third quarter of 2005.

tags: Games | Merger | GameStop | Electronics Boutique |

Movie Gallery Gets Antitrust Approval for Hollywood Entertainment Merger

Authored by Mark Hefflinger on February 14, 2005 - 10:45am.

Dothan, Ala. -- Movie Gallery, the nation's third-largest movie rental store chain, announced on Monday that antitrust regulators have approved its proposed acquisition of Hollywood Entertainment, the nation's second-largest rental chain. Alabama-based Movie Gallery bid $13.25 per share for Hollywood, or about $900 million. Blockbuster has also bid over $1 billion for the company, but its proposal is still under antitrust review at the Federal Trade Commission.

tags: Antitrust | Hollywood | Merger | Movie Gallery |

FTC Gives Antitrust Approval to Sony BMG Record Label Merger

Authored by Mark Hefflinger on July 29, 2004 - 4:14am.

Washington -- The Federal Trade Commission (FTC) has concluded its antitrust investigation into the proposed merger of two of the world's five major record labels -- Sony Music and BMG -- and given the merger the green-light. The FTC also worked with the European Commission on that regulatory body's antitrust investigation into the merger; the EC granted its approval of the deal last week. The merger of Sony's and Bertelsmann's music businesses will create a joint venture, Sony BMG, which will become the world's second-largest record company, behind Universal. Opponents argued further consolidation in the music industry, which in the past two decades has seen a multitude of formerly independent labels swallowed by what will now be the "big four," would harm artists in the long run. "We now look forward to creating a global recorded music company comprising many of the world's most successful artists as well as a vast catalog of recordings," BMG said in a statement.

Disney Rejects Comcast's $49 Billion Merger Proposal

Authored by Mark Hefflinger on February 17, 2004 - 8:55am.

Burbank, Calif. -- The Walt Disney Company announced on Monday that its board of directors has unanimously rejected a $49 billion unsolicited merger proposal from Comcast, the nation's largest cable TV provider. In a statement announcing its rejection of Comcast's offer, Disney's board said that it "has confidence in the business, financial and creative direction of Disney under the leadership of Michael Eisner." The board also noted that Comcast's valuation of Disney was 15% lower than its current share price. "We are committed to creating shareholder value now and in the future and will carefully consider any legitimate proposal that would accomplish that objective," the Disney board said in its statement. "The interests of Disney shareholders, which represent the fundamental priority of the board, would not be served by accepting any acquisition proposal that does not reflect fully Disney's intrinsic value and earnings prospects."

tags: Disney | Comcast | Proposal | Merger |

Danish Mobile Content Providers Realtime, Zellsoft Agree to Merger

Authored by Mark Hefflinger on March 21, 2003 - 4:29am.

Copenhagen -- Realtime, a provider of wireless application infrastructure, announced that it will merge with Zellsoft, a developer of wireless entertainment content. Financial terms of the transaction were not disclosed. Once merged, two Danish companies will take the Realtime name and have headquarters in Copenhagen. Realtime aims to be the leading European provider of entertainment for mobile devices. "The two companies will become a heavy player in the mobile entertainment area. We have the strength to compete on all continents, and together we will be providing more than 30 mobile operators globally with appealing mobile entertainment services," said Zellsoft CEO Mads V. Jorgensen. http://www.realtime.dk/subnews.php?newsid=643&subid=602&linkbg=1&where=2-3&flash=2