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Technology Stocks : Activision....Returns! -- Ignore unavailable to you. Want to Upgrade?

To: Burlitis who wrote (1833)	3/9/2001 1:56:46 PM
From: Scot	Read Replies (1) \| Respond to of 1992

Tom, anytime you want to come out from behind the curtain... Maybe this will get him out: mcvuk.com Chinese takeaway A powerful Chinese investor has made a daring bid for Activision, following the veteran US publisher's recent run of success. MCV understands that Activision has received an offer of $25 a share from Chinese new media firm Pacific Century Cyber Works (PCCW). The company is owned by Richard Li, who was responsible for selling Star TV to Murdoch for $50m five years ago. The offer for Activision comes at a time when the US firm is making good progress, with the company having achieved its aim of evolving from a predominantly PC publisher to a multi-format games outfit. For the nine months to December 31st, both sales and net profits were ahead of forecast at $493.4m and $19.6m respectively. Given its strength at present - its share price was over $23 at time of press - it is possible that Activision will turn down the bid from PCCW. Meanwhile, the publisher's European business has seen a slight belt-tightening restructure. In the UK, Activision has closed its creative services department, opting to outsource graphic design and art work. The marketing department has also been trimmed, with former head of marketing Michelle Marchand and erstwhile licensing and OEM manager Simon Benton being made redundant. In line with the reorganisation, Sarah Ewing has been promoted to the position of director of marketing for the UK and RoE, whilst Roger Walkden steps up to the role of director of strategic marketing. Tim Woodley has also been promoted to brand manager for extreme sports titles.