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Yeah, Capcom going for sale was in line with Abenomics this week deciding to make many cross holding & pension fund "silent vows" illegal, which were traditionally the biggest malaise affecting JPY stocks since 1987. A good example of this was when Sony was being suggested to sell the TV poo poo-unit and spinout Sony Media a year ago by Dan Loeb. Problem is most of Capcom's IP's are and have proven to sell for poo poo in the last 2 console cycles unless niche products to small markets (ie: mega man library vs. say, Mario or the Halo IP that Microsoft paid for). Also, unless you are a company like EA or ATVI which have a really good paper to trade in the market, many studios and even media conglomerates like WB & Dreamworks are very short on cash right now, making a big premium vs. your own internal projects like ATVI's Destiny (hi2u: 1Billion dollar video game boondoggle!) not really compelling. Either the company gets picked up by a vulture gameco like Nexion or it will sit and languish like Midway or THQ where those who REALLY NEED to have Megaman or DMC in their library will just wait it out until a few stink bids get actually considered by the Board. Sad, but old game IP's just don't sell these days. Much like old movie catalogs (see the Lions Gate fiasco that ran on from 2009 to 2012). TLDR: Hal's an idiot.
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Jun 17, 2014 06:34
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Beef Waifu posted:It means more Dark Void. Yeah, If anything it will mean the best IP's will be picked up by some troll who will sit on them like "homeworld" and only after getting some really loving stupid promote for the IP by a nostalgic company (like on par with Duke Nukem Forever) will that troll ever think of giving out that IP for a new-project. Of the whole portfolio the only thing I straight up could even consider buying would be the Street Fighter IP. Ducktails was a limited run, and Disney will never sell you the rights (or make a new game beyond just relauches of it) Remember me? poo poo Devil May Cry? New game sold like poo poo. Resident Evil? Has this ever been a blockbuster game since RE3 ? Bionic Commando? nope. Ace Attorney? Nintendo exclusive, they blocked porting to X360 the first 3; dont think it's going to change now that Nintendo is in even deeper poo poo now than 2012. Dead rising? welcome to ET hell. Lost planet. Why would you do this junk if you have BF or COD/Halo ? Okami: their last big indie game To MrHorse: http://www.capcom.co.jp/ir/english/data/pdf/result/2013/full/result_2013_full_01.pdf equity, plus net working capital = the value. 51% of that is your rough answer. If you really want to do meatball math, assume the Motorola precedent for book value discount for patents, for a distressed sale to roughly assume what you would be paying for the Capcom 51% stake; answer is anywhere between those two numbers.
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Jun 17, 2014 08:18
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