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Time Warner looks to grab 10% of SCI

Media conglomerate Time Warner is looking to purchase a 10 percent stake in developer SCI Entertainment (Tomb Raider, Hitman). According to website The Business, Time Warner initially wanted to buy SCI, but that was lowered to 20% and then halved to 10% of stock.

A complete buyout of SCI may be in the plans for the future; Time Warner executives are "preoccupied with a share buyback and the restructuring of AOL," according to the article. (For sake of full disclosure, Time Warner owns AOL owns Weblogs Inc. owns Joystiq.)

SCI's Tomb Raider franchise was turned into a film franchise by Paramount Pictures, a rival of Time Warner's movie studio Warner Bros. Pictures. Will there be a conflict of interest should a third Tomb Raider movie materialize?

[Via Gamasutra]