Connect with us

News

Toys R Us Planning Revival, Opening New Stores

Published

on

If you’re a Toys R Us kid, then your beloved Toys R Us stores may be on their way back.

According to a report from Reuters, the company’s debtors have cancelled the absolute auction, and plan to revive the Toys R Us brand.

Furthermore, the report states that a new Toys R Us and Babies R Us branding company is in the planning stages, and it will “maintains existing global license agreements,” and will allow for investment in opening new stores and “private brands business.” The report went on to say that much of the debt could be attributed to a $6.6 billion “leveraged buyout by private equity firms in 2005.”

Toys R Us met a sad, emotional end over the summer, unable to recover from their Chapter 11 bankruptcy filing  back in September 2017, which was filed in hopes that it would provide ample time for the company to reorganize so it could address owing lenders around $5 billion.

 

Comments

Business

Patreon Hires Twitch’s Adiya Taylor as New Corporate Communications Lead

Published

on

twitch news

Content creation platform Patreon has officially tabbed Adiya Taylor as their new corporate communications lead, effective in February, according to an official announcement.

Taylor worked for Amazon’s video game streaming platform Twitch for three years in a variety of roles, most recently serving as the company’s senior monetization communications manager prior to her departure.

Taylor’s hiring comes after Patreon brought on Brielle Villablanca as Vice President of communications and creator advocacy back in November 2023.

“I’m thrilled to begin crafting and implementing a communications strategy around policy, trust and safety, product and more,” Taylor said during an official post on the networking platform LinkedIn, adding that she believes Patreon is a “true advocate” for creators.

“I’m looking forward to more storytelling around how we’re fostering fandom so that creators own long-lasting businesses built around their artistry,” Taylor added.

Continue Reading

Business

Microsoft Bringing Four Games to Rival Consoles

Published

on

microsoft

Microsoft has responded to recent reports that there will be changes to it’s first-party strategy and has confirmed that four game titles will be released on rival consoles.

More specifically, Xbox head Phil Spencer said that ‘Starfield’ and ‘Indiana Jones’ will not be among the four titles heading to other platforms. Both games had a number of candidate platforms, per reports, adding that this is “not a change to our fundamental exclusive strategy.”

“We don’t damage Xbox and we can grow our business using what other platforms have to help us with that,” Spencer said, according to GamesIndustry.biz.  “Looking forward, I think there is an interesting story for us of introducing Xbox franchises to players on other platforms to get them more interested in Xbox. We think there’s a good brand value for Xbox there.”

Xbox president Sarah Bond announced that Activision Blizzard games would begin to be added into Game Pass offerings, starting with Diablo 4, which will be added on March 28th.

Additionally, Bond said that Microsoft is still working on hardware for the future and that their focus regarding the future is “delivering the largest technical leap you will ever have seen in a hardware generation.”

 

Continue Reading

Business

Sega’s Revenue See Rise to $27 Billion

Published

on

Sega

Sega Sammy has released its financial report for the nine-month period that officially concluded on December 31st, 2023, and that report that demonstrated a rise in overall sales and profit despite a decrease in sales for Sega’s new titles.

That decline was offset by growth in pachislot and pachinko machines, however Sega had lowered its sales forecasts for the full financial year.

Here is a breakdown, courtesy of GamesIndustry.biz.

  • Net sales: ¥349.9 billion ($2.3 billion, up 28.7% year-on-year)
  • Operating income: ¥54.4 billion ($364 million, up 42.4% year-on-year)
  • Ordinary income: ¥57.2 billion ($383 million, up 42.7% year-on-year)
  • Net sales were up 130.3% to ¥120.2 billion ($805 million) in this segment
  • Ordinary income increased by 521.3% at ¥45.7 billion ($306 million).
  • Entertainment Contents segment, which includes video games, net sales were up 4.2% at ¥219.3 billion
  • Profit decreased by 52.5% to ¥19.7 billion ($131.8 million) as a result of weak game sales

You can read a breakdown of the entire report at GamesIndustry.biz here.

Continue Reading

Trending