SCi Entertainment signed a strategic distribution agreement with Warner Bros. Home Entertainment Inc. for the US, Canada and Mexico, to drive growth in the North American market, additionally Warner Bros will subscribe for up to £15m New Shares.
Phil Rogers, Chief Executive Officer, SCI Entertainment Group said, "Today we have significantly strengthened our relationship with Warner Bros. one of the world's largest media groups, to create an exciting strategic partnership, giving us increased scale in the North American market, to the benefit of all our major franchises. 'The new financing puts us in a clear position to deliver on the strategic business plan which we announced in February with focus on cornerstone studios and core franchises, delivering high-quality, world class games."
Kevin Tsujihara, President, Warner Bros. Home Entertainment Group, added, "This investment underscores Warner Bros' commitment to becoming a major presence in the video game business, With SCi's new management team in place along with their track record of rich franchises like Tomb Raider, Hitman and Deus Ex we believe we have formed an exciting partnership and a powerful engine for growth."
Progress with Tomb Raider: Underworld remains encouraging and the game is scheduled for worldwide release before Christmas 2008.
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