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Second Board Member Quits SCi/Eidos

Warner Bros. Entertainment president Kevin Tsujihara has become the second non-executive director to leave the directorial board of Eidos Interactive (Tomb Raider) owner SCi. At the same time, though, Warner Bros. increased its stake in the company
Warner Bros. Entertainment president Kevin Tsujihara has resigned as non-executive director of Eidos Interactive (Tomb Raider) owners SCi. No explanation for Tsujihara’s exit was given, but it follows the departure of fellow non-executive director Aaron Brown earlier in the month. Brown represented investment company Thorson Investments. Brown and Tsujihara were appointed to the board at the same time in June, as a result of separate investments in SCi by the companies they represent. Beyond confirming the exits, SCi did not comment further, nor did it suggest if and when Tsujihara and Brown might be replaced. While Tsujihara left the Board, Time Warner actually increased its share in SCi by 5 million ordinary shares to a total of 42.5 million. This brings Time Warner’s total stake in SCi up to 16.3 percent of its issued share capital. In December 2006, Time Warner signed an investment and distribution agreement with SCi, gaining rights to a number of Time Warner properties, while Warner Bros. Interactive became the SCi’s primary distribution partner in North America. Earlier this year, rumors swirled that Time Warner was interested in buying SCi, but neither company has confirmed the rumors. While still refusing to name the interested party, SCi announced in April that it had ended current acquisition talks.

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