logo
Share SHARE
FONT-SIZE Plus   Neg

Disney Reportedly Halts Game Development At Lucasfilm Division

Entertainment giant Walt Disney Co. (DIS) has decided to halt video game development at its Lucasfilm division, reports said Wednesday.

The business was acquired by Disney last year from its founder director George Lucas for about $4 billion. The latest decision is part of the company's efforts to cut costs.

The company's video game unit LucasArts, established in 1982, will now focus on a licensing model instead of internal development. The unit's catalog included "Lego Star Wars" and "Star Wars Battlefront."

Disney expects this change to minimize the company's risk ''while achieving a broader portfolio of quality 'Star Wars' games.''

The number of jobs being affected are not known. The company employs over 1,800 staff. However, according to a report, around 150 employees have been laid off and current projects have been abandoned.

DIS closed down 0.4 percent at $57.25 on Tuesday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving sharply higher at the open, stocks continue to see notable strength in mid-day trading on Wednesday. Buying interest has waned from earlier in the session, however, leading the major averages to pull back well off their highs. Former Florida Gov. Jeb Bush and businessman Donald Trump top the list of Republican presidential candidates in a new CNN/ORC International poll, although both are well behind Hillary Clinton in potential general election matchups. Confusion refuses to die down in Europe even after crucial deadlines were missed and hapless Greeks stare into an uncertain future for their country, while other Europeans try to preserve the sanctity of the union and the euro.
comments powered by Disqus
RELATED NEWS
Trade DIS now with 
Follow RTT