News

Time Warner Buys 10m Eidos Shares

Additional shares in troubled publisher raises Warner's stake to a 20 percent minority.

Time Warner has acquired another 10 million shares in Eidos (formerly SCi), pushing the firm’s slice of the publisher to some 20 percent.

Though Warner’s interest in acquiring Eidos shares will not come as a surprise, the actual number of additional shares the company has purchased may raise some eyebrows. Eidos had previously relaxed policy which prevented Warner to launch a takeover bid, and speculation is circling that multiple parties are wrangling to own the troubled publisher.

Warner’s newfound assets are far short of a controlling stake in the publisher, however, and another party is still able to walk away with a controlling stake.