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Navarre Completes Purchase of Japanese Media Distributor Funimation

Authored by Mark Hefflinger on May 12, 2005 - 9:21am.
Minneapolis -- Navarre Corp., a publisher of video games, DVDs and software, announced that it has completed its acquisition of Japanese anime producer Funimation Productions, which it purchased for $100.4 million in cash and 1.8 million shares. Texas-based Funimation is the North American distributor for Japanese creations including "DragonBall Z" and "Yu-Yu Hakusho." Minneapolis-based Navarre also said it purchased the outstanding 20% stake in its Encore game publishing subsidiary that it did not already own. The company expects its purchase of Funimation will increase its 2006 revenue to between $710 and $720 million, compared with the $599.2 million it expects to report for 2005.
tags: Purchase | Navarre | FUNimation | Japanese Media |

Report: News Corp Eyeing Purchase of Video Game Company

Authored by Mark Hefflinger on January 14, 2005 - 9:03am.
London -- Australian media tycoon Rupert Murdoch's News Corporation is actively eyeing acquisitions in the video game sector, a move confirmed this week by the company's chief operating officer Peter Chernin at an investment conference, The Financial Times reported. "We see [video games] as a big business and would like to get into it," Chernin said, adding that News Corp has been "kicking the tires of pretty much all video games companies." Targets include Santa Monica, Calif.-based Activision, which is actively seeking a buyer. "We are struggling with the gap between companies like Electronic Arts, which come with a high price tag, and the next tier of companies. These may be too focused on one or two product lines." The news comes in the same week that News Corp agreed to buy full control of Fox Entertainment Group -- which includes the Fox Network, Fox News Channel, 20th Century Fox film studio and its stake in DirecTV -- in a stock swap valued at around $6 billion.
tags: Reports | Purchase | News Corp | Eyeing | Video Game Company |