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In 2001, Sega CEO and CSK chairman Isao Okawa died; his will forgave Sega's debts to him and returned his stock to the company, which helped Sega endure the transition financially. In 2004, Sammy Corporation purchased a controlling interest in Sega through a takeover, establishing the holding company Sega Sammy Holdings.
Sega Corporation [a] [b] is a Japanese multinational video game company and subsidiary of Sega Sammy Holdings headquartered in Shinagawa, Tokyo.It produces several multi-million-selling game franchises for arcades and consoles, including Sonic the Hedgehog, Angry Birds, Phantasy Star, Puyo Puyo, Super Monkey Ball, Total War, Virtua Fighter, Megami Tensei, Sakura Wars, Persona, and Yakuza.
Sega's decision to implement a GD-ROM (though publicly advertised as a CD-ROM) for storage medium did save costs but it did not compare well against the PS2's much-touted DVD capabilities. Sega was either unable or unwilling to spend the advertising money necessary to compete with Sony, who themselves took massive losses on the PlayStation 2 to ...
It's worth noting, of course, that Sega has experimented with Sonic over the years, taking the character beyond his ultra-fast, run, roll and jump roots. Even the most recent Sonic game — last ...
Okawa, who had previously loaned Sega $500 million in 1999, died on March 16, 2001; shortly before his death, he forgave Sega's debts to him and returned his $695 million worth of Sega and CSK stock, helping Sega survive the transition to third-party development.
Sega: Battletoads: While Sega acquired the rights to port Rare's Battletoads (1991) to Sega Genesis and Game Gear, they did not do so for the Master System. As a result, Virgin Games acquired the Master System rights and began work on a port, originally scheduled for a 1993 release before being delayed and eventually cancelled.
The Genesis still struggled in the United States against Nintendo, and only sold about 500,000 units by mid-1990. Nintendo had released Super Mario Bros. 3 in February 1990 which further drove sales away from Sega's system. Nintendo themselves did not seem to be affected by either Sega's or NEC's entry into the console market. [21]
STI completed one game in partnership with Sega AM1, Die Hard Arcade. [4] The game originated as a means for Sega to use existing resources: Sega had produced an excess inventory of ST-V arcade boards, and had acquired the Die Hard license but as yet had no Die Hard games in development. [5]