Liquid Media acquires rights to 65 classic video game titles
Deal worth $1 million includes rights to All Star Baseball, Kwirk, and Bubble Bobble
Liquid Media is the latest company to try and tap the lucrative nostalgia well following its acquisition of 65 retro game titles from Throwback Entertainment.
Included in the deal are the rights to games such as All Star Baseball, NFL Quarterback Club, Kwirk, and Bubble Bobble.
Although speaking in vague terms, Liquid suggested the property acquisition could lead to game remasters, sequels, and even video adaptations of the properties.
In a statement, the company highlighted the thriving retro market driven by the release of classic mini consoles; in June, for example, the NES Classic was the fastest selling hardware in the US, outpacing both the Xbox One and PlayStation 4.
"Retro gaming is driving incredible success for the world's largest players, like Sony and Nintendo," said Charles Brezer, director of Liquid Media Group.
"Sony is gearing up to release a revamped version of its iconic PlayStation Classic just in time for the holiday season and Nintendo's retro consoles have sold millions of units in the past couple of years.
"This title acquisition along with our studios' proven 25 year track record kicks off Liquid's growth strategy."
A growth strategy is what the Vancouver-based media company needs right now, having seen its stock decline value by nearly 83 per cent over the past five years.
The all-stock transaction deal is valued at approximately $1 million, with 670,000 shares issued to Throwback at $1.49 each. This represents a premium of 60 per cent to the quoted closing price of Liquid's shares on September 24.