Time Warner ups stake in Sci Entertainment to 16%

The Time Warner Entertainment has increased its stake in UK-based video games maker Sci Entertainment, noted for its Lara Croft franchise.

With the recent buy of 5 million shares, Time Warner has increased its stake to 42 million shares, or 16.1 per cent, from its previous 14 per cent.

Meanwhile, Kevin Tsujihara, Time Warner’s representative on the SCi board, resigned on Friday as a non-executive director, with immediate effect.

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Time Warner, however, mentioned that despite Tsujihara’s resignation from the board, Warner’s increase in ownership is a clear indication of their confidence in Sci Entertainment.


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