RealNetworks to spin off casual games biz

Digital entertainment services firm RealNetworks announced it will spin off its growing casual gaming business as an independent public company. Although RealNetworks currently plans to distribute shares in the venture to existing shareholders, as much as 20 percent of the as-yet-unnamed firm may be offered via IPO--a decision will be made by the end of 2008. RealNetworks entered the casual gaming business in 2001, and three years later purchased game production firm GameHouse--earlier this year, Real acquired casual games syndication company Trymedia from copy-protection and rights-management solutions developer Macrovision. In the first quarter of 2008, Real issued 38 new titles for the PC and mobile platforms, six of them developed in-house, and enjoyed Q1 game sales of $31.8 million, more than 20 percent of its overall $147.6 revenue for the period.

For more on RealNetworks' gaming plans:
- read this Seattle Times article

Related articles:
On the Hot Seat with RealNetworks' Rob Glaser
MTV, RealNetworks team for Rhapsody America