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Finance

Report: Warner Bros to pay $160 million for Turbine

Fri 23 Apr 2010 3:58pm GMT / 11:58am EDT / 8:58am PDT
FinancePublishingDevelopment

Insider puts a figure on Warner's most recent acquisition

Turbine, Inc.

Turbine, Inc. is the premier creator and operator of massive, persistent online worlds that foster powerful...

turbine.com

A source close to the negotiation between Warner Bros and Lord of the Rings Online studio Turbine has said that the media giant will pay around $160 million for the developer.

Speaking to The Boston Globe, the source speculated that the figure would include sums to be paid to Turbine shareholders in future years if the company meets certain financial targets.

Details of the deal, which will give Warner - through Turbine - complete control over all future games based on the Lord of the Rings novels, emerged earlier this week.

"I view this as Hollywood coming to Boston," said Turbine's chief executive Jim Crowley, who added that the deal underscored Boston's increased prominence in the games industry.

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