More Tomb Raider Bidders Appear

karima_adebibe_small.jpg

SCi Entertainment, now officially going down in flames as they confirm a net loss of GBP 29.1 million in the past fiscal year, say that Ubisoft isn't the only company interesting in snatching up the company and their rights to the Tomb Raider series.

Electronic Arts, an unnamed Chinese company and Time Warner are all rumoured to also be preparing bids for the company.

Analysts blame, in part, the slow build up for the PS3 install base as part of the reason SCi is hemorrhaging so much cash.

"The larger-than-expected provision against capitalised development costs reflects the fact that the installed base for Sony's PS3 has taken longer to build than expected," said Panmure Gordon analyst Richard Newboult, maintaining a buy rating. "If a significant price reduction for the console boosts sales, then there is a good chance that at least some of this provision will prove to be unnecessary."

Yes, that's entirely why SCi is going down in flames... the PS3.

3rd UPDATE: SCi Receives More Bid Attention, Reports Fiscal Year Loss [CNN Money]


Comments

Be the first to comment on this story!

Trending Stories Right Now