SCI Entertainment, the British video game company best know for its “Tomb Raider” franchise, has lost three top execs, including its CEO. It’s also running out of money and hasn’t found anyone to buy it, which is why it’s trading at about 25% of its December levels. Bad news for Time Warner (TWX), which bought a 10% stake in the company in 2006. Marketwatch:
SCi (SEG) said Phil Rogers, who joined the firm from Electronic Arts (ERTS) in March and had moved into the job of chief financial officer, will become CEO.
Malcolm Dunne, the chief financial officer of its U.S. publishing business, will become interim CFO, but won’t be appointed to the board. The company said it will look both externally and internally for a permanent CFO.
The games maker also said it’s going to conduct a business review, and is in talks to find the necessary funding to survive a delayed rollout of a new line of Tomb Raider games. It plans to tell shareholders at the end of February about the review and the financing discussions.
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