Report: Warner paid £100 million for Traveller's Tales

Cash-happy Warner to pay the sum out over five years; still has plenty of spare change to spend.

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Last week, Warner Bros. Interactive Entertainment made its first purchase on what could well be a mammoth shopping spree. The company acquired Cheshire, UK-based Traveller's Tales, the development company behind the Lego Star Wars games and Bionicle Heroes, as well as the upcoming Lego Batman.

The move came after Warner had secured $500 million in funding from an Abu Dhabi-based financial group, and according to a report in the Manchester Evening News, the Traveller's Tales buyout cost the company £100 million (approx $200 million).

The founder, Jon Burton, set up Traveller's Tales in 1989, after he had problems selling his own video game to other software companies. The company became TT Games after a merger with publisher Giant Interactive Entertainment in 2005. Burton stands to make a mint from the sale, with more than 80 percent of the company shares in his name and the remainder being held by his management team.

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