Warner Bros. says to buy TT Games
LONDON (Reuters) - Warner Bros. home entertainment division said on Thursday it was buying UK-based games publisher TT Games, the business behind Traveler's Tales and the LEGO Star Wars series.
Financial terms for the deal, which is subject to regulatory approval and final terms and conditions, were not disclosed.
Warner said it had agreed to buy TT Games and TT Games Publishing. The TT Games business was established in 2005 when Traveler's Tales, one of the world's largest independent games developers, and publisher Giant Interactive Entertainment merged.
TT Games holds the video game development and publishing rights to 'The Guinness World Records' book and titles in its LEGO development pipeline include Batman and Indiana Jones.
Warner Bros is a unit of Time Warner Inc (TWX.N), the world's largest media company. Warner Chairman and Chief Executive Barry Meyer said buying TT Games marked the latest step as the company expanded further into the games industry.
Warner's entertainment arm has been extending its portfolio of games development and distribution assets and in September set up a film and video game production business involving United Arab Emirates Aldar Properties ALDR.AD.
Warner said at the time it would invest $500 million with its partners in a joint venture fund to develop films with another $500 million going to a video game fund.
(Reporting by Gavin Haycock, Editing by Erica Billingham)
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