Titus Interactive took majority control of US Interplay Entertainment Corp today after exchanging convertible bonds for Interplay stock. The exchange gives Titus a 51.52 percent stake in Interplay, up from the 34 percent it held in June. Titus exchanged 336,070 convertible bonds for 6.68 million shares of Interplay stock. Titus now holds 27.09 million shares of Interplay.
"This purchase raises Titus Interactive's voting rights and will enable, during the annual general meeting in September, a reelection of the board and a takeover of Interplay by Titus Interactive," Titus stated.