Majesco Rids Itself of Two Franchise Games
Rights to publish games based on "The Darkness" and "Ghost Rider" comic book character sold to undisclosed publisher.  December 13th, 2005 (5:27pm) - Majesco has announced that it has sold all of its rights and obligations related to the game titles, The Darkness and Ghost Rider, to an undisclosed video game publisher. The assignment included all of Majesco’s agreements with the licensors and developers for these titles. Majesco received proceeds of $8.0 million as a result of the transaction.
As a result of the sale, the Company reduces its financial obligations and improves its capital structure. Additionally, this sale affords the Company added flexibility with which to pursue additional opportunities and execute initiatives related to its core business. Additional details will follow on a conference call in January 2006 when the Company plans to report its results for fiscal 2005, ended October 31, 2005 and discuss its overall business plans. Reported by Elias Dounis on December 13th, 2005 (5:27pm)
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