NEWS - Thursday, February 27, 2003


Microsoft, EA Bid for Sega

Microsoft, EA Mull Bid for Sega TOKYO (Reuters) - Microsoft Corp and Electronic Arts Inc are separately exploring the possibility of buying all or part of Japanese videogame maker Sega Corp, the Asian Wall Street Journal said on Friday. The paper, quoting people familiar with the situation, said the two U.S. companies have yet to hold formal talks with Sega and that no deal was imminent. The news sparked a buying spree in Sega shares, boosting the stock price by 13.91 percent to 729 yen by 8:17 p.m. EST Thursday. Sega said earlier this month that it would merge with pinball-style ’pachinko’ game machine maker Sammy Corp, abandoning plans to restructure on its own and turning to financially sound Sammy for help. The paper said either U.S. company could emerge as Sega’s White Knight, pulling the company away from a merger plan that appears rife with difficulties and internal opposition. Microsoft has asked at least one U.S. investment bank to investigate ways it could buy all or part of Sega, while EA in recent weeks has approached Japanese game makers about launching a joint bid for Sega, the paper said. Acquiring Sega could give Microsoft a strong boost in Japan, where a dearth of Xbox games that appeal to Japanese consumers has left a vast stock of unsold consoles. A deal could also give EA a boost in Japan and remove a competitor, the paper said. Sega, which reduced its 2002/03 net profit forecast by 90 percent early this month, is expected to announce, as early as on Friday, a reorganization of its U.S. operations that will shed 20 percent of its work force of 450, the paper also said, quoting people familiar with the plan. The cuts are part of a global restructuring that could lead to additional layoffs around the world, the paper said. Sega was not immediately available for comment. A spokesman for Microsoft’s Japanese subsidiary declined to comment on the report, but said that U.S. company chairman Bill Gates, who visited Tokyo earlier this week, had not met with Sega representatives.
Source: http://www.reuters.com

Site Statistics

Registered Members: 79,399
Forum Posts: 725,965
Xbox One Titles: 6,092
Xbox 360 Titles: 1,086
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 586
Original Xbox Titles: 987
Staff Reviews: 2,548
Member Reviews: 10,339
News Articles: 16,531
Screenshots: 38,801
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

KeyWe Giveaway!
Post by Variation-XBA
0 Replies, 23080 Views

2021: XBA is still here
Post by shrew king
38 Replies, 188772 Views

Watch Dogs: Legion
Post by Nato King
0 Replies, 120871 Views

Xbox Series X or S
Post by Nato King
5 Replies, 138085 Views

Spellbreak Grand Magus Pack (3) and Starter Pack (7) Giveaway!
Post by Variation-XBA
0 Replies, 129106 Views

I pay $ 1000! I search the Element 54 Canadian launch Team signaturen Faceplate
Post by Smill
0 Replies, 150017 Views

Xbox one no signal
Post by debrartin
0 Replies, 140255 Views

do you remember?
Post by SnoochyBoochy
3 Replies, 202658 Views

i haz xbox
Post by SnoochyBoochy
0 Replies, 157602 Views

Claiming the first thread of 2020
Post by Kraft
7 Replies, 252413 Views

Important! I pay $ 1000! I search the Sweden launch and the Element 54 Faceplate
Post by Smill
3 Replies, 146347 Views

Squad Up
Post by samslophead
0 Replies, 249019 Views

TERA Skinned Xbox One X Giveaway!
Post by Variation-XBA
0 Replies, 176595 Views

Starfield Release expectations?
Post by DJ tx
4 Replies, 304610 Views

Issue with Xbox live on Xbox home
Post by rcmpayne
0 Replies, 164636 Views

© 2000-2024 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics