The publisher will sell off its remaining regularly-priced titles and shift its focus to the under-$20 market.
Crave Entertainment Group Announces
New Strategy For Publishing Unit
LOS ANGELES, CA - February 11, 2003 - Crave Entertainment Group announced
today that it has revised the strategy of its publishing unit, Crave
Entertainment, to focus exclusively on the acquisition of value and mass
market products. This new strategy is designed to capitalize on the
anticipated growth of the $19.99 and under segments of the next generation
console platforms.
This new product strategy will fully capitalize on the strength of the
company's SVG Distribution operation and give the company a single focus and
positioning in the marketplace. As a result, Crave Entertainment has
entered into, or is finalizing, a number of transactions with other
publishers to sell components of its entire frontline development project
portfolio. The proceeds from the sale of these assets will be reinvested in
value product acquisition, as well as, distribution based opportunities.
