Saturday November 21st, 1998
GameSpot is reporting Cendent's confirmation that it will sell its software division, including Sierra.
Cendant Corporation confirmed earlier reports that it intends to sell its consumer software division to Paris-based Havas SA for US$800 million in cash and future contingent cash payments that could amount to another $200 million. The consumer software division includes Sierra On-Line and its six studios, Knowledge Adventure, Blizzard Entertainment, and Davidson and Associates. The deal, pending regulatory approvals, is expected to finalize sometime in the first quarter of1999. Cendant estimates that the sale will result in an after-tax gain of roughly $450 million in 1999. Cendant stock as of 1:30pm EST was up a half point at 14 15/16, though at one point within the last year Cendant had been enjoying a 40-point peak.
This should not affect the release of Return to Krondor or any future titles.
