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Business, Financial & Legal Posts - Page 261

THQ spent nearly $40 million closing down two Australian game studios

THQ have had a rough couple of years, its share price five years ago sat very pretty at $33.73, and in 2011, dropped to just 66 cents. Operating costs also kicked them, hard. They used a significant chunk of their cash closing down two Australian studios, costing nearly $40 million total.

 

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Out of that $40 million, $4.4 million of it went to severance packages and other wage-related issues. $17.5 million of it was spent on costs related to the "cancellation of two unannounced titles in development" at THQ Studios Australia and Blue Tongue. But, we're not finished yet.

 

THQ paid a flat fee for a license for The Avengers, where THQ had to just write off after the cancellation of the game that was in development at THQ Studios Australia. What did it cost THQ for that? A cool $16 million. Thrown away, burnt, just washed their hands with it. For $16 million already spent on The Avengers game, I'd like to know how it made financial sense to can development of a game already in development.

SOPA has been stalled, Johnny Drama yells "Victory!"

Entourage fan? If not, the title means nothing to you. YouTube it! Big news, SOPA has been stalled everyone, stalled! It was stalled due to a lack of 'consensus'. A lack of consensus with something so big going through Congress. Who would've thought!

 

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The backlash from the Internet community with sites like Reddit against it, and the boycotting of companies that supported it like GoDaddy, have helped to force the pathetic bill to be stalled. On Saturday, the House Oversight Chariman, Darrell Issa (R-Calif.) was promised by Majority Leader, Eric Cantor (R-Va.) that the House won't vote on the controversial Stop Online Piracy Act (SOPA) unless there is a consensus on the bill.

 

Issa said in a statement:

 

While I remain concerned about Senate action on the Protect IP Act, I am confident that flawed legislation will not be taken up by this House. Majority Leader Cantor has assured me that we will continue to work to address outstanding concerns and work to build consensus prior to any anti-piracy legislation coming before the House for a vote.

Continue reading 'SOPA has been stalled, Johnny Drama yells "Victory!"' (full post)

RumorTT: Telstra say TPG might buy out iiNet

Just after iiNet scooped up Internode, we now have a Telstra communication to their staff, where they seem to be informing their employees that TPG could buy iiNet, which would see TPG jump into second position among Australian ISP's.

 

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TPG already owns 7-percent of iiNet, so if TPG were to takeover iiNet, it shouldn't be a surprise. The exact words from Telstra, as provided from Delimiter:

 

"iiNet's $105 million acquisition of Internode, announced just prior to Christmas, will see it gain 190,000 subscribers, and spearhead TPG Telecom into third place among broadband providers behind Telstra and Optus," the company's update read. "In recent months, TPG Telecom has been building a stake in iiNet, which, according to market speculation, could be a precursor to a full takeover."

Continue reading 'RumorTT: Telstra say TPG might buy out iiNet' (full post)

Xbox scooped up 40% of all videogame sales during 2011

Microsoft has shown its strength just now, with the Xbox taking in nearly half of all consumer spending from physical sales in 2011. Roughly $6.7 billion, or 40-percent of consumer retail spending, was spent on the Xbox, breaking into two separate categories. $2.1 billion on consoles, and $4.6 billion on games, according to NPD data released today.

 

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These figures take into account U.S. retail sales of new physical videogame content, inclusive of portable and console hardware, games and accessories. In the collective sectors, they generated revenues of $17.02 billion last year, an 8-percent decline from 2010's $18.6 billion in generated revenues. Out of that $17.02 billion, Microsoft took a very respectable 40-percent of those sales.

 

The report doesn't include sales from digital formats, with things like downloadable content, social and mobile games, used and rental sales. Those so-called "newer" categories generated $7.24 billion in revenues last year, an increase of 7-percent over 2010. Whilst the increase in spending on alternative formats was there, it wasn't enough to offset the declines in physical retail. Consumer spending across both categories was between $16.3 and $16.6 billion, falling 2-percent from last year.

Continue reading 'Xbox scooped up 40% of all videogame sales during 2011' (full post)

eBay and Amazon forecasts for mobile commerce volume in 2012, $8 billion and $7 billion, respectively

CES 2012: eBay CEO (and new interim PayPal CEO) John Donahoe, revealed at his CES keynote yesterday a number of new mobile payments forecasts for not only eBay, but PayPal, too. PayPal VP David Marcus said a few days ago that PayPal had surpassed its expectation of $3.5 billion in mobile payments in 2011, reaching $4 billion for 2011.

 

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Donahoe said in his CEO keynote that eBay reached $5 billion in mobile GMV (gross merchandise volume), this is a 100-percent jump on 2010's GMV. Donahoe also projected yesterday that eBay would reach $8 billion in mobile GMV in 2012, with PayPal reaching $7 billion in transactions in 2012.

 

Mobile has more than 65 million downloads of eBay's mobile applications across all platforms. More than 890,000 new eBay shoppers completed their very first eBay purchase via the mobile apps in 2011, an 113-percent increase year-over-year. Donahoe also announced a new strategic partner in eBay's RedLaser barcode scanning app, who is it? Well, it's Best Buy. The app was updated last fall to include integration from PayPal and Milo to give users the ability to buy now for either in-store pick-up, or home delivery later.

 

Best Buy joins Toys R Us as RedLaser's latest partner.

37 million Windows Phone-based Nokia handsets could be sold this year

Nokia. Microsoft. Windows Phone. 2012. This is all you need to know if you want to believe the numbers Morgan Stanley expect Nokia to ship this year, based on Windows Phone devices alone. They expect Nokia's new Windows Phones to sell 37 million units this year, with that number ballooning to 64 million units next year.

 

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Morgan Stanley's estimates for HTC's Windows Phone-based handsets is actually quite the number, too. They estimate 43 million this year and 74 million next year. Considering these are just estimates, I can't see it happening, but Nokia and HTC are two powerhouse companies, so who knows. I just see iOS and Android fighting them too much to sell phones in those types of numbers.

 

Microsoft have a lot of work cut out for them this year, but they seem to be in their stride now. It should be interesting to see what they do this year against Android 4.0 and if there's a release of iOS 6 sometime later this year. We should see great things from all three companies.

Microsoft have (for now) halted plans for Web TV subscription

Microsoft has clamped down its plans to launch an online subscription service for TV shows and movies, according to a report from Reuters. Microsoft were deep in discussion with potential programming partners for over 12 months now, and were, up until recently, planning to launch the service in the upcoming months.

 

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They have done a 180-degree turn on that decision, after deciding that the licensing costs were too high for the business model they envisaged, according to people "familiar with the discussions". One senior media executive who was involved in these talks, said:

 

They built Microsoft TV, they demoed it for us, they asked for rate cards but then said 'ooh ah, that's expensive.'

 

Early versions of the service included the same Kinect-based features such as voice and motion control to change channels, and more. Similar to Netflix, Microsoft's service would've allowed a monthly fee for a package of programming from someone other than your local cable or satellite TV company. Being different to Netflix, Microsoft hoped to offer current TV shows and live networks on their service, which made it a much higher cost proposition.

Continue reading 'Microsoft have (for now) halted plans for Web TV subscription ' (full post)

Tim Cook received $377,996,537 in compensation last year, how do you like dem apples?

Well, I know what I want to be when I grow up. 2011 was an amazing year financially for Tim Cook, becoming the CEO of Apple after Steve Jobs passed away, he took in a new salary and a bunch of stock awards. By a bunch, I mean a lot and by a lot, I mean over $377 million worth.

 

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According to Apple's 2012 Proxy Statement, Cook received $377,996,537 in total compensation last year, compared to Jobs' compensation which was exactly $1. Cook only took in $900,000 as a salary in 2011, but received an insanely large bonus in restricted stock units, vesting in two five-year increments and doled out with his appointment to the CEO throne, took his total compensation through the roof.

 

This isn't the first time Apple gave its CEO a bunch of stock options, back in 2006, Steve Jobs received $646.6 million, most of which was given in stock options. Just imagine that, opening up your Internet Banking page, and seeing all those numbers. I'd most likely find myself on the floor three days later, passing out from pure shock.

Reddit prepares for anti-SOPA blackout, planned for January 18 between 8am and 8pm

Thank you, Reddit. For being one of the biggest sites on the Internet opposed to the ridiculous, corrupt crap that is SOPA (Stop Online Piracy Act). We've covered it a few times now and I'm completely, 100-percent opposed to it. This is something where everyone needs to be aware, and pass news around as much as possible to make others aware.

 

If SOPA is passed, everything you know about the Internet will change, completely. It will not be the same. It's pretty much the censorship of the entire Internet. Reddit, being as strong as they are, and very community-based, are fighting against it. Reddit will be blacking out their entire site on January 18 from 8am-8pm EST (1300-0100 UTC) as a protest.

 

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Reddit will simply display a message about how the PIPA/SOPA legislation would shut down sites like Reddit, and they'll link users to resources where they can learn more, and suggest ways they can take action. They'll also showcase the live video stream of the House hearing, where Internet entrepreneurs and technical experts will be testifying.

Continue reading 'Reddit prepares for anti-SOPA blackout, planned for January 18 between 8am and 8pm' (full post)

OCZ acquires Israel-based SANRAD Inc.

OCZ Technology have been snapping up companies lately and today is no different with the acquisition of SANRAD Inc., an Israel-based provider of flash caching and virtualization software and hardware. The addition of intellectual property to OCZ's growing portfolio is expected to increase the adoption of PCIe SSD storage solutions specifically in VMware and Citrix Zen environments.

 

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SANRAD currently sells its flash caching and virtualization software to OEMs such as NEXSAN and Brocade. The deal between OCZ and SANRAD is reportedly worth approximately $15 million, which consists of approx. 2.1 million shares of OCZ stock.

Continue reading 'OCZ acquires Israel-based SANRAD Inc.' (full post)

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