The TT Games business was established in 2005 through the merger of Traveller’s Tales and games publisher Giant Interactive Entertainment, which was started by Lego. TT Games holds the video game development and publishing rights to the Guinness World Records book and holds such titles as Batman and Indiana Jones in its Lego development games.
Buying TT Games marked the latest step as the company expanded further into the games industry, said, Barry Meyer, chairman and chief executive at Time Warner.
As part of the deal, TT Games is expected to work independently with external partners like Lego Indiana Jones and will be working with Lego Batman.
Warner Bros first entered the gaming industry in 2004 by acquiring a stake in Monolith Productions, which owns games such as The Matrix Online and Condemned: Criminal Origins. In 2006, it bought a 10% stake in SCi, the UK-based developer of games such as Constantine, Desert Storm II and Total Overdose.
In addition, Warner Bros and its partners announced plans to invest $500m in a joint fund to develop films and another $500m in a video game fund in September 2007.
Another media company MTV had earlier announced that it plans to invest $500m in developing and distributing video games linked to its entertainment properties over the next two years.
Source: ComputerWire daily updates
