Robert Kotick, chairman of the board, and CEO of Activision Inc., speaks at the Reuters Media Summit in New York, November 27, 2007. REUTERS/Brendan McDermid
BEVERLY HILLS, California (Reuters) - The slowing economy will pressure makers of video game consoles to lower their prices, Activision Inc ATVI.O Chief Executive Bobby Kotick said in an interview on Wednesday.
“With the rising costs of fuel and food and housing, it is more difficult to go out and buy a $399 console, and I think it’s going to put pressure on the console manufacturers to reduce their prices,” Kotick told Reuters.
Kotick also said he was concerned that rival Electronic Arts Inc's ERTS.O $2 billion takeover bid for Take-Two Interactive Software Inc TTWO.O will give EA too much power in sports games.
“That’s concerning, sure. When you think about one company in control of the sports category, with no competition from anybody else, that could be a challenge,” Kotick said.
Reporting by Nichola Groom; editing by Jeffrey Benkoe
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