Disney Looking to Acquire UTV, Ignition Entertainment’s Parent
Ignition Entertainment haven’t had the best of luck recently, with the expensive WarDevil being officially cancelled, and the company facing a series of lay-offs as it shifts from developing to publishing games. But with Disney eyeing the publisher’s parent UTV, Ignition may be nearing salvation, or possibly facing damnation.
Reuters claim that Disney has made an offer of around $454 million to acquire UTV, by purchasing 49.6 per cent of the company’s shares. Disney already owns a 50.4 per cent stake in the company, but is looking to take control of the entire company. Disney is apparently interested in UTV’s presence in India, and are looking to tap into their strong ties with Bollywood. However, one anonymous analyst explained that Disney are also interested in the gaming part of the company:
Walt Disney has always been interested in most of UTV’s business, especially the gaming part.
However, Disney previously said that they were moving away from console games, and were more interested in social titles, causing them to close down Black Rock and Propaganda Games. Even Disney’s social games picture doesn’t seem too rosy, with thirty jobs lost at Three Melons in Buenos Aires, which is part of Disney’s Playdom.
Stay tuned to PlayStation LifeStyle for more news on the acquisition, and what it means for Ignition Entertainment.