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EA Buys Bioware & Pandemic

IGN - October 11, 2007

Submitted by Joe80 (8) at 2:22PM PST on October 11, 2007

"Electronic Arts announced today that it has purchased the holding company that owns BioWare [Mass Effect] and Pandemic Studios [Mercenaries 2]. The acquisition will cost EA about $775 million, which includes a $650 million cash payment to the stockholders of VG Holding Corp., which directly owns the two developers, and an additional $155 million in equity to select VG employees. As part of the agreement, EA said it plans to lend up to $35 million to the company through the closing of the deal, expected in January. EA will also assume outstanding VG Holding Corp. stock options. VG Holding is owned by Elevation Partners, which invested $300 million in BioWare and Pandemic in November 2005, creating one of the world's best-funded and largest independent game development houses."
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EA cutting prices on sports games.

Forbes - November 13, 2007

Submitted by kspraydad (18) at 9:23AM PST on November 13, 2007

Analysts said Tuesday that video game maker Electronic Arts Inc. is cutting prices on sports games, which the analysts said is a bad sign going into the holiday season. The games affected include important sports titles such as "NBA Live 08," "Madden NFL 08" and "Tiger Woods PGA Tour 08."
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EA CEO: Game Industry Consolidation Slowing Down

Game daily - December 3, 2007

Submitted by Heloise10 (117) at 6:55AM PST on December 3, 2007

On Friday EA CEO declares the end of mergers in the industry. On Monday Vivendi and Activision merge. PRICELESS! (well how much is he paid?)
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EA Confirms EA Chicago is Closing - November 6, 2007

Submitted by feelmyring (35) at 11:55AM PST on November 6, 2007

"Within the EA Games Label, we are committed to running each franchise and facility as a city/state, teams with unique creative identities as well as responsibility for product quality, ship dates and profitability....Unfortunately, EA Chicago hasn't been able to meet that standard....Closing EA Chicago is the toughest decision I've made in my career - one that in no way reflects on the talent and dedication of the people who work there."
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EA Shares Hit 52-week High

nexgen - October 14, 2007

Submitted by vobbo (60) at 1:48PM PST on October 14, 2007

Stock rose $2.48 in morning trading to $61.17, following yesterday’s announcement that EA would beat its Q2 revenue and earnings guidance.
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