Tuesday, November 30, 2010

EA CEO Talks Acquisitions

   In an interview with Bloomberg yesterday, EA CEO John Riccitiello described potential acquisitions as "too expensive" thus far and went on to say, "There are probably 25 companies on our radar that would make sense for us at somewhere between 5 and 10 percent of the asking price.” When asked about the possibility of acquiring Harmonix which produces the Rock Band rhythm games, Riccitello stated, "While buying the Rock Band music video game franchise could make “theoretical” sense, it’s not the strategic direction the company is moving in." In 2006, Harmonix was acquired by MTV Networks which is owned by Viacom. Earlier this month, Viacom expressed their interest in selling Harmonix which is unprofitable.

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