SouthPeak acquires TNA Wrestling assets from Midway
Revenues double and losses turn to profit for US publisher
SouthPeak Interactive has revealed it has acquired "certain assets" based on the TNA iMPACT wrestling brand, previously owned by now bankrupt publisher Midway.
As a result the company will be publishing TNA iMPACT: Cross the Line on PSP and Nintendo DS in the next financial year. Despite a smaller fanbase than rival wrestling brands such as WWE, TNA iMPACT proved a major franchise for Midway, with over 1 million units shipped worldwide.
The news came as the company revealed its financial results for the three months ending September 30, 2009. The company recorded a USD 687,000 GAAP net profit, compared to a USD 2.7 million loss for the same period last year.
Revenues also double compared to a year ago, rising to USD 16.7 million, thanks to higher profile releases such as Section 8 and the company's best-selling My Baby for DS.
Other new releases scheduled for the coming months include My Baby: First Steps (Wii DS), Horrid Henry (Wii/PC/DS), Miniclip Sushi Go Round (Wii/DSi/iPhone), Dementium II (DS), Fast Food Panic (Wii/DS), Sled Shred (Wii), Crime Scene(DS) and Montessori Music (DS).
"We are pleased with our continued revenue growth despite the ongoing challenges in the retail environment and are excited by the hardware price reductions. We expect that the recent price reductions can drive momentum for the industry going into the holiday season," said CEO Melanie Mroz.