Time Warner Ups Stake in Video Game Company

LONDON, October 20: Time Warner has increased is ownership stake in U.K.-based game publisher SCi Entertainment—home to the Lara Croft franchise—to 16.1 percent.

SCi says that Time Warner purchased an additional 5 million shares, bringing its holding to 42.5 million ordinary shares. Time Warner first acquired a 10.3-percent stake in SCi in December 2006. At the time, SCi announced it would be developing several video games based on Warner Bros. brands, including Batman, Looney Tunes, the Hanna-Barbera catalogue and other animated properties. SCi releases games under the Eidos brand.

—By Mansha Daswani