Hostile Takeover
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The internet's biggest TV pirate calls it quits after scam
If you enjoy getting the latest TV shows from EZTV, you may want to stop that now, and not just because it's illegal. It's also more risky, because the hugely popular torrent site is now in the hands of potentially bad actors, according to TorrentFreak. Former staffers said that EZTV's founder "NovaKing" was the victim of a hostile takeover by a for-profit group, following a series of wacky (and ironic) events. The problems started when Italy's .IT registry suspended the original site's domain name, and what followed was something out of a high-tech Kafka novel.
Entropy lets players fight over star systems
Forget fighting over small patches of dirt in some fantasy arena; Entropy now lets you conquer entire star systems. The space sim launched its first major update today called Hostile Takeover. The core feature of the patch is a three-faction PvP system that allows players to fight over, conquer, and protect outlying star systems from their enemies. Factions must destabalize an enemy system in order to cause a crisis -- a limited window of opportunity to swoop in and cripple the enemy's space station. If this is done, then the system changes hands. "With support for up to a hundred players in the same match, we expect some truly epic battles," said Artplant Producer Jack Wulff. Entropy is currently available through Steam Early Access.
FTC to investigate Nexon's alleged hostile takeover of Gamania
Nexon's recent acquisition of Taiwanese publisher Gamania will be scrutinized by the Fair Trade Commission (FTC), according to a report in the Taipei Times. A hostile takeover is alleged, and FTC chairman Wu Shiow-ming said the commission will "ask Nexon to comment on its definition of Gamania's market share, the particular field it defines Gamania as being in, and its current relations with Gamania." This will help determine whether Nexon has violated the Fair Trade Act, which mandates that any merger involving a company with more than 25% market share in a particular field must be reported to authorities. Gamania contacted the FTC, ostensibly out of concern for Nexon's impact on the Taiwanese gaming industry. "It would be absolutely detrimental to the development of Taiwan's online gaming industry if a large-scale foreign corporation was allowed to take control of the local industry's operating channels and resources, whether the integration is horizontal or vertical," the company said.
Samsung says it's absolutely not pursuing SanDisk any longer, just listening to Blood on the Tracks for no reason
Not sure why Samsung felt the need to reassure investors and the SEC that it's no longer pursuing SanDisk after its buyout offer was withdrawn back in November, but here we are, reading about it in the Wall Street Journal. Apparently the two companies signed a patent-licensing agreement in May, so we'd imagine that's kept lines of communication open -- but we have to warn you, Sammy: getting off that friends ladder ain't exactly easy. Maybe it's time to move on, you know?
Samsung withdraws bid for SanDisk, hurts with words
Citing SanDisk's "rapidly declining prospects," Samsung has withdrawn its hostile takeover bid. In a letter just released by Vice Chairman and CEO Lee Yoon-woo, Samsung writes, "After nearly six months of efforts to pursue a transaction with no meaningful progress, we are withdrawing our proposal to acquire SanDisk." The letter then turned a shade more nasty with this: "Your surprise announcements of a quarter billion dollar operating loss, a hurried renegotiation of your relationship with Toshiba and major job losses across your organisation all point to a considerable increase in your risk profile and a material deterioration in value, both on a stand-alone basis as well as to Samsung." Analysts will remind you that the move does not mean that Samsung has abandoned its quest for SanDisk entirely. However, further action in the current economic climate seems unlikely give the Korean governments warning against major overseas mergers and acquisitions. Besides, just who is SanDisk? Can it really be trusted after being seen palling around with slotMusic?Update: SanDisk just responded by blaming Samsung for the breakdown in negotiations while questioning its intentions. SanDisk then pivoted abruptly on heel and pretended to freshen-up its makeup while sneaking a wanton look back at Samsung in the reflection of its shareholder discontent. At least that's our read on the matter.
Samsung makes a hostile bid for SanDisk
We'd heard rumors Samsung was wooing SanDisk, but it looks like the four-month courtship is over -- Samsung just announced that in response to SanDisk's "unrealistic expectations" during negotiations, it's going hostile and will offer $26/share for the company. That's bound to cause some waves in the storage industry, especially since Toshiba and Seagate were also rumored to be interested in SanDisk. We'll see what happens -- things always get a little crazy when there's nearly six billion dollars in cash on the table.[Thanks, Marshall84]Update: SanDisk's board rejected the bid unanimously, saying the bid undervalues the company and is, like, totally uncool, man.Read - WSJ articleRead - Samsung letter to SanDisk
EA deadline to Take-Two shareholders ends tonight
There are a little over 12 hours to go before EA's $25.74 per share deadline for Take-Two ends at 11:59PM EDT. Analyst Michael Pachter told Forbes (via GamePolitics) that EA started off too high with its $26 a share offering and should have started around $22 back then. Meanwhile, analyst Colin Sebastian tells the San Francisco Chronicle he believes the deal is going to get "hammered out," possibly at a higher price.As of this writing, Take-Two's stock is trading around $27 per share, but EA could be buying up all those shares with its billion dollar loan for all we know. Word on the street is that something could happen Monday, but the only certainty right now is tonight's deadline.
Blockbuster offers to buy, um, Circuit City: digital downloads be damned!
Huh? Blockbuster just made public its February 17th offer to purchase Circuit City for $6 to $8 per share. As of this morning, Circuit city has not provided the requested due diligence necessary to move the deal forward. As such, Blockbuster is pulling a Microsoft and making the proposal public in hopes of inciting shareholders. They've even gone so far as to publish an open letter from Blockbuster CEO Jim Keyes to Phil Schoonover, CEO of Circuit City. Really, is this how all corporate affairs will be conducted in the future guys? What really boggles the mind though is Blockbuster's quest for even more brick-and-mortar as digital downloads begin to take off. Hit the read link for the full contents of the letter. [Via I4U]
