Majesco Entertainment reported improved results for Q1 ended Jan. 31 that it said were driven by strong demand for its holiday season releases. Profit grew to $6.8 million, or 18 cents per share, from $3.8 million, 10 cents, in Q1 last year. Revenue grew 66 percent to $48.5 million.
SAN FRANCISCO -- Several developers and publishers at last week’s Game Developers Conference told us they were looking to expand their support to new platforms. But Android seemed to be the platform that most of them wanted to start developing for the most.
Maine Gov. Paul LePage did not include provisions to roll back the state’s e-waste law in the first regulatory reform bill (LD-1) he proposed to the Legislature. But even if he does, as some expect, in another environmental regulatory reform package, he’s likely to meet with resistance from at least one key Republican lawmaker. The e-waste “law is working well,” said Sen. Thomas Saviello, the Republican head of the Senate Environment and Natural Resources Committee. “People have gotten used to it,” he told us.
SAN FRANCISCO -- The Social & Online Games Summit, as well as the first GDC Smartphone Summit, were relegated to the first two days of last week’s Game Developers Conference, but those and other non-traditional games had a strong presence throughout the conference. Nintendo’s keynote was one of the few parts of GDC in which traditional console and handheld games took center stage, and even there the main news turned out to be Netflix movie streams coming to the 3DS portable game system this summer (CED March 3 p1).
SAN DIEGO -- Paul Gray, director of TV electronics research for DisplaySearch, warned the TV industry in 2008 that if something didn’t change, the TV set would end up as a commoditized monitor. Something did happen when the Internet and the TV collided, and the industry is banking on the connected TV to lead the product category well into the future. But Gray warned on at the DisplaySearch Flat-Panel Conference last week that Internet video is creating a large traffic jam on the road to the future and few solutions are in sight.
Western Digital’s proposed $4.3 billion acquisition of Hitachi Global Storage Technologies will likely throw support behind Hitachi’s bid to define next-generation hard drive technology, analysts said. The proposed purchase, which is expected to close in Q3, consists of $3.5 billion cash, including a five-year, $2 billion term loan, and 25 million shares of Western Digital stock. Hitachi will own 10 percent of Western Digital as a result of the sale.
LONDON -- Two new interlocking standards that aim to bring some harmony to the fragmented world of Internet-connected TV were among the outcomes of the U.K. Digital TV Group’s annual summit last week. Both are due for publication in the U.K. this spring, and then will be offered for standardization worldwide.
The Canadian toy industry has drawn up a product stewardship program for videogames, game consoles and electronic toys. The first such collection and recycling program for toys in North America will be implemented in British Columbia starting July 2012, pending approval from the province’s Ministry of the Environment. On behalf of the Canadian Toy Association, the Canadian Brandowner Residual Stewardship Corp. (CBRSC) will implement the program in partnership with Waste Management, the corporation said.
Blockbuster’s bankruptcy takes another turn this week as creditors gear up for a hearing in their opposition to the chain’s proposed $290 million sale to Cobalt Video. Cobalt, comprised of lenders including Monarch Alternative Capital, took the lead in establishing a stalking horse bid in Blockbuster’s proposal to hold an auction. U.S. Bankruptcy Judge Burton Lifland, New York City, adjourned a hearing last week amid opposition to Cobalt’s proposal from 45 creditors including Disney Co., Universal Studios and Yahoo. A hearing on creditors’ motion is set for March 10.
Moving forward with energy standards for battery chargers in California, despite an ongoing federal effort, would “create unnecessary cost and compliance burdens” for manufacturers and could “negatively impact product usage and technology choices,” CEA and nine other trade groups said last week in a joint letter to California Energy Commission (CEC). “The commission’s approach suggests the potential for re-regulation, or double-regulation, of external power supplies that are already covered by the energy efficiency regulations at the national level,” the groups said. The Department of Energy has started a rulemaking on battery charger conservation standards.