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by
Daniel Huebner and Jennifer Olsen
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 News
Week
of May 29-June 4, 2000
[Friday,
June 2, 2000]
Sony
Buys Verant
Sony is solidifying its online games position with the purchase of Verant
Interactive. The privately held Everquest developer will become
the new core of Sony Online Entertainment, with Sony phasing out its existing
Los Angeles operation is order to consolidate its activities around the
San Diego headquarters of Verant. Sony is tapping Kelly Flock, who worked
closely with Verant while heading up Sony's 989 Studios, as CEO of the
new-look Sony Online Entertainment.
Acclaim De-Listing
Acclaim is appealing Nasdaq's decision to de-list the company. Nasdaq
informed Acclaim on May 30 that the company no longer met the net tangible
assets requirement nor the $5 minimum bid price for listing on Nasdaq's
National Market. Though Nasdaq has present Acclaim with the option of
moving to the Nasdaq Small Cap Market, Acclaim is instead appealing de-listing
decision. Among the option being consider by Acclaim is a reverse stock
split, which the company believes could push its minimum bid price back
above $5.
[Thursday, June 1, 2000]
Steed
Fired
Internal strife at id has led to the dismissal of Paul Steed. Commenting
on the matter in his .plan file, id's John Carmack explained the firing
was related to an internal dispute over the nature of the company's next
title. Though a decision was made, to create a new sequel to the original
id hit Doom, the fallout of the battle appears to be the loss of
Paul Steed. "Kevin [Cloud] and Adrian [Carmack] fired Paul Steed in retaliation,
over my opposition," John Carmack wrote, "Paul has certainly done things
in the past that could be grounds for dismissal, but this was retaliatory
for him being among the 'conspirators'. I happen to think Paul was damn
good at his job, and that he was going to be one of the most valuable
contributors to DOOM.
Take-Two Financials
Take-Two is reporting strong gains in the first quarter. The company saw
net sales for the quarter increase 34 percent to $52.2 million. Net income
for the quarter reached $3.4 million, bettering last year's first quarter
result by 115 percent. The quarter also saw Take-Two continue to grow
by acquisition, with the company completing it purchase of Gather of Developers
as well as the purchase of Pixel Broadband Studio and the subsequent creation
of Broadband Studios, Inc. "Most importantly [Take-Two] demonstrated that
its balanced business model can thrive in a variety of different industry
climates," said company CEO Ryan Brant, "we continue to leverage the successes
of our diverse business model into investments in next-generation gaming
technologies which we believe will pave the way to an even brighter future."
Sony Invests
Sony Corporation is investing over a billion dollars to increase Playstation
2 chip production. The company is spending 125 billion yen ($1.2 billion)
to boost production of the Sony Computer Entertainment and Toshiba developed
Emotion Engine processor for Playstation 2. Toshiba's Emotion Engine plant
in southern Japan manufactured two million chips in the first 82 days
following the Playstation 2's Japanese launch, and both companies hope
to better that mark proceeding the console's North American debut in October.
[Tuesday,
May 30, 2000]
Interplay
Listing
Interplay Entertainment is in danger of losing its Nasdaq listing. The
company is reporting that it has been notified by Nasdaq that it no longer
meets the criteria for future listing on Nasdaq's National Market. Interplay
is contesting that determination and is appealing the decision to the
Nasdaq Listings Qualifications Panel. A hearing is scheduled for June
22, and Interplay will continue to be listed on the National Market until
a decision is made.
Culberg
Joins NUON
VM Labs is bringing in a former Columbia Tri-Star executive to focus its
interactive entertainment vision. Peter Culberg is joining the company
as executive vice president as well as chief operating office for VM's
NUON group. VM Lab's is banking on Culberg's background at Columbia Tri-Star
Home Video improve the NUON DVS console technology's profile with software
providers and developers by expanding partnerships and creating a more
coherent tactical position for the machine. "Paul has a wonderfully broad
vision of how we can further cultivate the uniqueness of the NUON platform,"
said VM Labs CEO Richard Miller, "His relationships in the entertainment
world as well as his understanding of how the delivery of content continues
to evolve are invaluable to us."
Past
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