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Time Warner beefs up stake in Eidos

Game of give and take
By Sylvie Barak
Mon Dec 15 2008, 14:05

IT'S GAME ON FOR Time Warner, having just snapped up yet another 10 million Eidos shares and bringing its stake in the games maker to almost 20 per cent.

Time Warner now owns 52.5 million shares in the Tomb Raider firm, or 19.92 per cent of the company.

The news hardly comes as a surprise. Warner has been flirting with SCi (now Eidos) for a while now, and Eidos has been having its fair share of financial troubles lately.

Also, the two firms had already teamed up earlier this year with a 'strategic partnership' involving SCi shares and Warner distribution, while Kevin Tsujihara, President of Warner Bros Home Entertainment Group, was appointed to the SCi board.

He later stepped down for 'personal reasons'. µ

 

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