SCi and Time Warner deal expected imminently
Wall Street expects 10 per cent stake in publisher to be announced soon
US media giant Time Warner is expected to announce that it has bought a ten per cent stake in UK publisher SCi Entertainment.
According to a report citing Wall Street sources on thebusinessonline.com, what began as a bid for the entire company has, over the months, been negotiated down to 10 per cent.
Any deal would enable the two companies to work together to develop business, with SCi gaining access to Time Warner content, while the media conglomerate will be able to make a significant push into the gaming market.
SCi has been at the centre of takeover talk since the beginning of the year with a number of different suitors including Midway Games, but the attention of Time Warner has recently led to shares boosts for the publisher, lending weight to speculations that a deal is due to be announced shortly.