Microsoft Not Buying Electronic Arts
Posted on: Thursday, 24 September 2009, 12:50 CDT
A Microsoft executive said on Thursday that it has no plans to buy Electronic Arts, denying any talk of a potential bid that triggered a spike in the video game publisher's shares.
"We have no plans to acquire EA," Phil Spencer, corporate vice president of Microsoft Game Studios, told Reuters in an interview on Thursday. "They remain a very important partner to us. No acquisitions."
Spencer did not comment on whether Microsoft had held talks with Electronic Arts on such a move.
Electronic Arts' shares jumped over 8 percent on Wednesday on unsubstantiated rumors that Microsoft might want to buy the video game publisher.
Electronic Arts unsuccessfully pursued a buyout of rival video game company Take Two Interactive Software last year.
The publisher of popular titles like "Madden Football" has a market value of $6.5 billion and is frequently named by traders as a target for Walt Disney co. and Timer Warner Inc.
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Source: RedOrbit Staff & Wire Reports
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