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Titus Interactive, a French publisher and developer has taken over a majority control of Interplay. Anyway, heres the sotry on Yahoo:
PARIS, Aug 16 (Reuters) - French video games maker Titus Interactive has taken majority control of U.S. Interplay Entertainment Corp after exchanging a wad of convertible bonds for Titus shares earlier this week.
Titus, which rattled investors earlier this year when it mulled selling what is seen as a key strategic asset, said on Thursday it had increased its stake in Interplay to 51.53 percent versus the 34 percent it held in June.
``This purchase raises Titus Interactive's voting rights and will enable, during the Annual General Meeting in September, a re-election of the board and a takeover of Interplay by Titus Interactive,'' Titus said in a statement.
After exchanging 336,070 convertible bonds into 6.68 million Interplay shares on Tuesday, taking its holding to 27.09 million shares, Titus still holds a further 383,354 convertibles.
Shares in Titus were down 3.25 percent at 5.66 euros at 0754 GMT, underperforming the small-cap Nouveau Marche (^NMFK - news) which showed a loss of 1.58 percent.
Titus, which generates half its sales in Europe and the other half in north America and Asia, posted annual turnover of 172.1 million euros in its 2000/01 fiscal year ending June 30 and reaffirmed its target to break even in 2001/02.
What does this mean for Black Isle Studios, who constantly bring out top-quality RPG's for its loyal fans? Lets hope a whole lot of good....
| | Source: RPGVault |
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Interplay Bought Out
