After 31 Yrs LucasArts' Run Comes to Swift End
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Price: $103.61 +1.39%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
EPS Growth %: +51.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
EPS Growth %: +51.4%
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This morning staff at LucasArts was informed that Disney (NYSE: DIS) plans to shut down operations and layoff its 150 employees. Reports say Disney will also cancelled all current projects, including Star Wars: First Assault and Star Wars 1313, according to reports in Kataku, citing sources.
In a statement LucasFilm said, "After evaluating our position in the games market, we've decided to shift LucasArts from an internal development to a licensing model, minimizing the company's risk while achieving a broader portfolio of quality Star Wars games."
The news ends a 31 year run for the game developer, and emphasizes LucasFilm and Disney's reliance on external development.
LucasArts was acquired by Disney along with LucasFilm in a major deal last fall.
In a statement LucasFilm said, "After evaluating our position in the games market, we've decided to shift LucasArts from an internal development to a licensing model, minimizing the company's risk while achieving a broader portfolio of quality Star Wars games."
The news ends a 31 year run for the game developer, and emphasizes LucasFilm and Disney's reliance on external development.
LucasArts was acquired by Disney along with LucasFilm in a major deal last fall.
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