We’re just catching up on Time Warner’s recent acquisition of video game publisher TT Games, reportedly for $200 million. This is just the latest TWX game investment: The others include a stake in publisher Sci Entertainment Group, which publishes the Lara Croft titles, as well as the money Time Warner has sunk into its money-losing online GameTap offering (we hear $150 million).
Don’t expect TWX to stop spending on video games any time soon. For starters, it has already struck a deal with Abu Dhabi to create a $500 million game fund. And more broadly, TWX and the rest of the big media conglomerates are in a frenzy for game assets in general, convinced that the industry represents a recession-proof entertainment business, much in the way that movies once were. As SeekingAlpha’s Bruce Everiss explains, this is music to the ears of current game company owners.
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