Majesco sells off Ghost Rider, Darkness

Troubled publisher gets $8 million for all rights to upcoming comic-based game projects.

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It's been a rough year for Majesco Entertainment. The publisher's stock peaked in January at $16.40 before hitting setback after setback. As of press time, the company's stock was trading for $1.35. To top it off, today Majesco announced that it has sold off the rights to two of its most anticipated releases, The Darkness and Ghost Rider, to an unnamed publisher for $8 million.

Developed by Starbreeze Studios, the team behind last year's surprise hit, The Chronicles of Riddick, Escape From Butcher Bay, The Darkness is based on the Top Cow comic of the same name. The comic follows Jackie Estacado, a mob assassin who, while on a job, acquires a host of black magic powers, known collectively as "The Darkness." The game was scheduled for release in 2006 on the Xbox 360 and PlayStation 3.

While it also has comic book roots, Ghost Rider is primarily based on the Nicolas Cage movie of the same name, due in theaters from Sony Pictures in summer 2006. Directed by Mark Steven Johnson (Daredevil, Simon Birch) and based on the Marvel comic, the horror-action movie will star Nicolas Cage as Johnny Blaze, a motorcycle-mad stuntman who becomes possessed by an avenging demon. The game is under development for Xbox, PlayStation 2, and PSP at British studio Climax.

While the loss of two high-profile properties from its catalog is a blow to Majesco, the company says the move has trimmed its financial obligations, and the money yielded by the sale gives it "flexibility with which to pursue additional opportunities and execute initiatives related to its core business."

More details are expected to be revealed in the company's January 2006 conference call, when it reports results for its fiscal year 2005, which ended October 31.

Discussion

15 comments
townsenda1
townsenda1

Yeah I'm excited to see what happens next. If the Chronicles of Riddick was so good than the next project should be even better. Can't wait.

SavoyPrime
SavoyPrime

Poor Majesco. Maybe things would have been different if Advent Rising had been better, and Psychonauts had sold more (it really was a damn good game).

Nyaar
Nyaar

You guys don't know much about the business. You have Developers, and you have Publishers. Developers make the games, Publishers publish them. The Darkness, and Ghost Rider have developers, their publisher was Majesco. Majesco sold the games, so in a sence they sold the Developers too. The games will be made, I wouldn't be surprised if THQ picked up both these titles.

ZippyDSMLee
ZippyDSMLee

the down side for makeing for mroe than one system mroe losses for when a game flops,altho they seem to make desent games I wodner who will get the ghost rider one....why do I have a feeling a low end dev that dose moive games will get it 0-o.

ewjim
ewjim

"The Darkness."??? I wonder if i can see it... :P

bluedevl420
bluedevl420

360 has 100 games slated for release b4 '07...so there dont know how many ps3 games there r tho ps majesco rocks, wish they would make another phantom dust type game

DargusLacroix
DargusLacroix

its really sad to see majesco this way. it hurts because they do greenlight some really neat games (psychonauts...hello?). to see them beaten to a pulp is almost a travesty. just hang on a little longer majesco, youll find a way out of this hole....somehow.

Saburbia
Saburbia

well xbox360 is already out and ps3 doesnt even have a for sure date on its release even though they are saying they are sticking to their spring launch >.>

GastaS
GastaS

so far i think xbox360 has more titles than PS3! Majesco will blow ppl minds for sure

LordOfMidnight
LordOfMidnight

"Chronicles Of Riddick" ruled so I'm looking forward to this.

anthony_basic
anthony_basic

Paul you idiot, Starbreeze the makers of Riddick are developing the game, so dont worry about talent. Starbreeze has proven to have that.

The_SandRock
The_SandRock

"Well Majesco should consider being an exclusive developer for Xbox360!! Long live X360" They'd sort of make more money if they made games for PS3 and 360.

swanlord
swanlord

Well Majesco should consider being an exclusive developer for Xbox360!! Long live X360

Paul_TheGreat
Paul_TheGreat

Now a developer with talent can get the license.