Digest: Gemstar guides Nintendo
EmptyGemstar guides Nintendo
Gemstar-TV Guide said Monday that it has struck a deal with Nintendo to put the G-Guide interactive program guide on Wii video game consoles, though only in Japan. Financial terms of the multiyear agreement were not disclosed. Shares of Gemstar, which is in the process of being purchased by Macrovision, closed down 1.8% on Monday to $4.58.
Take-Two sets severance plan
Take-Two Interactive Software, the target of a $1.9 billion buyout offer by Electronic Arts, has adopted a severance plan for employees who get fired in the event that the company is bought. The plan gives executives up to 1.5 times their salary and a bonus for up to 18 months if they are fired without cause within a year of a change in control. Nonexecutive employees will receive up to six months in salary. The plan does not apply to chairman Strauss Zelnick, CEO Ben Feder and other top executives covered under a separate management agreement.