Warner Bros purchase £15 million worth of shares in SCi
by Steven Williamson
on 28 April 2008, 10:49
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SCi Entertainment Group
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The Californian based producer of film and television entertainment has bought £15 million worth of shares in SCi and will act as distributor for all SCi titles in the US, Canada and Mexico.
"Today we have significantly strengthened our relationship with Warner Bros. - one of the world's largest media groups - to create an exciting strategic partnership, giving us increased scale in the North American market, to the benefit of all our major franchises," said SCi CEO Phil Rogers.
"The new financing puts us in a clear position to deliver on the strategic business plan which we announced in February with focus on cornerstone studios and core franchises, delivering high-quality, world class games."
"With SCi's new management team in place along with their track record of rich franchises like Tomb Raider, Hitman and Deus Ex we believe we have formed an exciting partnership and a powerful engine for growth."
Despite the news, shares in SCi dropped by 17 per cent at the start of trading on Friday, but SCi now believe that the partnership should secure the immediate future of the company and allow it to raise funds of up to £60 million through the sales of additional shares.
Source :: Games Industry.biz