Buys Into Square
announced that it will pay 14.9 billion yen ($124 million) for a 19%
share of Square Co. Sony will reportedly pay 1,330 yen a share
for 11.2 million shares, which will make Sony the second-largest
shareholder of Square stock (behind the founder). Square said
last week that it would have to write off 10.7 billion yen due to
the failure of Final Fantasy: The Spirits Within, which took
in about $32 million at the U.S. box office and had an estimated
development budget of $135 million.
stated that this will not affect any multiplatform development it
has planned, and that this investment by Sony does not tie Square to
Sony. Rumors have swirled that Square will develop for both
Microsoft and Nintendo.