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Time Warner Records Extra $3 Million Loss On GameTap Sale
by Leigh Alexander [PC, Console/PC, Exclusive]
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November 5, 2008
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Though Time Warner wrote off $18 million in its second quarter credited to its sale of digital delivery service GameTap, the company's third quarter results now reveal a specific $3 million operating loss from the sale, too.
Time Warner's Turner Broadcasting System, parent of GameTap, transferred the service to Paris-based Metaboli in September. Metaboli provides game distribution platforms and websites in Europe, a somewhat similar offering to GameTap's in the U.S.
Turner will continue managing GameTap operations and provide technical and migration support through a transition period scheduled to conclude in early 2009.
Afterwards, Metaboli will assume direct management of the business and brand, aiming to create a "global gaming service" under GameTap's brand in the States and its own in Europe.
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