SCi, parent company of Tomb Raider publisher Eidos, has said that is plans to cut jobs as part of a radical restructuring plan, and has cancelled 14 current projects.
SCi Entertainment has appointed Jurgen Goeldner as interim chief operating officer, just days after three of the publisher's senior management stepped down from their roles.
SCi Entertainment isn't likely to improve its financial status by selling off any of its IP or internal studios to other publishers, according to leading industry analyst Michael Pachter.
Following last night's announcement by SCi that it had pulled out of talks with other companies on a potential takeover move, the company's share price has plummeted by over a half.
Following last week's movement in the wake of the Activision Blizzard deal announcement, this week has seen general growth across the board - and particularly in light of a strong set of sales figures from NPD for November.
Stock in Activision rose by nearly 19 per cent across the past week, since Sunday's shock announcement that it had agreed a deal to merge with Vivendi Games.
With most games now released in time for the busy Christmas period, it's a crucial time for the various publishers - although share prices have generally fallen across the board as the markets continue to suffer from the US subprime mortgage fallout.
SCi has released an interim management statement that discusses the company's first fiscal quarter results and specifies that it has no new information to release regarding any possible takeover.
Eidos parent company SCi Entertainment has said that a further price cut for the PlayStation 3 is necessary to drive sales to meet Sony's current forecasts.
The SCi Entertainment Group, better known to many nowadays as publisher Eidos, has released a statement to the London Stock Exchange confirming recent speculation that the company has been approached with a view to making an offer.
SCi Entertainment has announced plans to release two of its forthcoming titles on three platforms simultaneously - and not on a staggered basis as previously planned.