OnRPG Shotgun News 7/2/12: Gaikai, THQ, Rise of Immortals, and More!

By Shannon Doyle (Leliah), OnRPG Journalist

 

 

 

Sony Acquires Cloud Gaming Company Gaikai

Sony has purchased cloud gaming company Gaikai for $380 million. Sony Computer Entertainment President Andrew House said the following on the deal;

 

“SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices.”

 

Rumors of this purchase have been surfacing for over a month but both sides have denied it until now.

 

 

THQ Announces Reverse Stock Split

During a special meeting of stockholders approved an amendment to effect a reverse split of its stock which has been set at 1 for 10. This will reduce the number of stock from around 68.5 million to about 6.9 million. This is all in an attempt to get the required $1.00 per share minimum bid required by NASDAQ for listing.

 

 

Petroglyph Announces Licensing Partnership for Rise of Immortals

 

Petroglyph, the developer and publisher of Rise of Immortals has announced a new partnership with RISE GAMES. This is to bring Rise of Immortals to a Turkish audience. RISE GAMES is able to reach out to major internet cafes and game stores across Turkey giving them a bigger audience.

 

 

South Korean “Shutdown Law” Faces Legal Action

 

The legality of South Korea’s Shutdown Law has come into question by citizens and game companies. The law prevents anyone under the age of sixteen from playing games during a six hour block at night. This is meant to encourage studying. Two lawsuits have been filed against this law. One is from game publishers NCSoft, Nexon and Neowiz. The other is from a Korean organization which represents parents and children who say the law undermines parental rights. Both lawsuits were filed last fall and are now being heard in court.