RealNetworks not spinning off games division this year
But it does have a new boss
While away at the Nokia Games Summit last week, we didn't pick up on RealNetworks's announcement of its third-quarter financials, which included the announcement of a new boss for its gaming division.
Thankfully, PaidContent has picked up on it, reporting that RealNetworks won't be spinning off the games division as a separate entity this year as planned.
"The current capital market disarray makes it clear that now is not the right time to spin off our games business into a new company," said CEO Rob Glaser, while stressing that it'll still happen once market conditions improve.
Meanwhile, the new boss of the games division is John Barbour, previously president of US operations for retailer Toys R Us.
He's pulling in a base salary of $450,000 according to Real's SEC filing, and next year will be eligible for a performance-based bonus of twice that. Nice work if you can get it!
For Q3, RealNetworks' games revenues were $34.2 million - up 19 per cent year-on-year. The company doesn't give details of how much of that came from mobile games.
