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In a bold move, British publisher Rare has been purchased by Microsoft obviously to further contend with Sony and Nintendo in the console title market.
[quote]"We sold our position back to Rare and then they sold the entire company to Microsoft," said George Harrison, senior vice president of marketing and corporate communications for Nintendo of America.
Microsoft, which has not announced the deal, refused to comment. Industry analysts estimate the price of the deal was likely between $400 million and $500 million dollars.
Nintendo will retain exclusive rights for most original properties and franchises featured in games developed by Rare, including Donkey Kong, Diddy Kong and Star Fox. Rare, though, will retain rights to the characters it created independently, including the "Perfect Dark," "Conker" and "Banjo-Kazooie" franchises. "Perfect Dark" sold more than 1 million copies (earning more than $55 million), and will likely make its way to the Xbox. Banjo-Kazooie and Conker games are also likely. [/quote]
You can see the full [url="http://money.cnn.com/2002/09/20/news/deals/rare/index.htm"]CNN artile here.[/url]
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