Time Warner released its second-quarter 2008 financial report
this morning, which included a brief mention of an $18 million write-off attributed to a "noncash impairment of GameTap." Say what?
The report claims the write-off is based on "Turner's decision to sell its online video game business," leaving it at that. Say what!
We've put a call into GameTap
information. Stay tuned.Update:
A Turner spokesperson tells us, "There is considerable marketplace interest in the GameTap business and brand. We are considering various strategic options but have reached no final agreement as yet. When there is a resolution, we will announce it."