Mergers and Acquistions News
Categories: Media & Information Services
October 29th 2008, 18:28PM
Warner Bros Entertainment, a division of the US media group Time Warner, is set to increase its holding in British video games developer SCi Entertainment after the target firm agreed to withdraw restrictions on the deal.
The move clears the way for Warner Bros to up its stake by 14 per cent to a 30 per cent holding before December 1st, Reuters stated.
Speculation over a possible deal had been mounting ever since the media giant bought five million shares earlier this month to give it a 16.1 per cent foothold in SCi, the news service added.
The game developer's stock had lost over 90 per cent of its value over the past year, but news of the deal boosted the company's stock price by 14 per cent.
SCi was founded in 1988 by Jane Cavanagh. In 2005, it acquired fellow video games developer Eidos Interactive.
The combined firm's portfolio includes franchises such as Tomb Raider, Championship Manager and Hitman. 
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