Majesco sells off publishing rights for $8 million
As Majesco's financial woes continue, the troubled company has announced that it has sold off the rights to two forthcoming games to an unnamed publisher in a deal worth USD 8 million.
As Majesco's financial woes continue, the troubled company has announced that it has sold off the rights to two forthcoming games to an unnamed publisher in a deal worth USD 8 million.
The two titles are The Darkness, an Xbox 360 and PS3 comic book tie-in currently being produced by Chronicles of Riddick developer Starbreeze, and Ghost Rider, based on a Marvel license and due for release next summer alongside the Nicholas Cage movie of the same name on PSP, PS2 and Xbox.
According to Majesco, the sale "affords the company added flexibility with which to pursue additional opportunities and execute initiatives related to its core business." Majesco received USD 8 million as a result of the transaction.
The move comes after Majesco reported massive operating losses and revenue shortfalls in its third quarter financial report, which was published in September. Shareholders launched four lawsuits against the publisher back in July, claiming that earnings had been overestimated.