NEWS - Tuesday, February 11, 2003
Crave Joining The $19.99 BandwagonCrave Entertainment Group announced today that it has revised the strategy of its publishing unit, Crave Entertainment, to focus exclusively on the acquisition of value and mass market products. This new strategy is designed to capitalize on the anticipated growth of the $19.99 and under segments of the next generation console platforms. This new product strategy will fully capitalize on the strength of the company's SVG Distribution operation and give the company a single focus and positioning in the marketplace. As a result, Crave Entertainment has entered into, or is finalizing, a number of transactions with other publishers to sell components of its entire frontline development project portfolio. The proceeds from the sale of these assets will be reinvested in value product acquisition, as well as, distribution based opportunities.