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Finance

Warner buys another 10 million Eidos shares

Mon 15 Dec 2008 8:49am GMT / 3:49am EST / 12:49am PST
BusinessFinance

Media giant increases its holding in publisher to 20 per cent

Time Warner has purchased another 10 million shares in Eidos, bringing its total stake in the troubled publisher up to 52.5 million, approximately 20 per cent of the company.

The news is relatively unsurprising given the interest that Warner has shown in SCi - recently renamed Eidos - and rumours of a takeover have been rife for some time.

Earlier this year the two companies announced a strategic partnership involving SCi shares and Warner distribution, and Warner Bros Home Entertainment Group president Kevin Tsujihara was later appointed to the SCi board - although it was a post he held for only a month before stepping down for personal reasons.

Eidos' share price was down by almost 3 per cent at the time of writing to 17 pence.

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