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
Shares of WM Morrison Supermarkets Plc were gaining more than 4 percent in the early Thursday morning trading as it reported 0.7 percent increase in first-quarter like-for-like sales excluding fuel. LFL sales were up 1.2 percent, including fuel. Zynga Inc. (ZNGA) on Thursday reported a first-quarter loss that narrowed from a year ago, reflecting an increase in revenues despite continued drop in user-base. Earnings for the quarter trumped analysts estimates, as did revenues, sending the company's shares up 13 percent in extended trading hours. San... Shares of Fitbit Inc. (FIT) slumped over 12 percent in extended hours trading after the maker of wearable technology reported a drop in first-quarter profit hurt largely by a surge in operating costs. The company also detailed a weak outlook for the second quarter. Fitbit's profit for the first-quarter...
comments powered by Disqus
Follow RTT