Sony purchases large share of Square
It has recently been announced that Sony Corporation will be purchasing 19% of Square Company at around $124 million (14.9 billion yen). At 1,330 yen a share, Square has agreed to sell 11.2 million shares, as they are still recovering from their attempts in the movie industry with Final Fantasy: The Spirits Within. The movie took in $32 million at the box office, far below their estimated $135 million budget.
The Final Fantasy series is Square’s best-selling video game of all time, as they have brought in $33 million world wide, and with this newly arrived agreement it is becoming apparent that the series may be exclusive to Sony for future terms.
It is predicted with Final Fantasy X coming out in January 2002, Square will see heavy revenue, as their explosive RPG debuts on the PS2. The game is receiving incredible hype from both highly respected magazines and in the media, which is a very good sign for both Sony and Square. Make sure to stay with us at PSX Extreme, as we will bring you every up to the date detail concerning Sony and Square’s recently instated agreement, and the impact it will have concerning the future of the Final Fantasy series.
10/9/2001 Matt Stensrud