Warner Bros to give SCi £15 million

Friday, 25 April 2008 09:50 GMT By Patrick Garratt

Warner Bros has confirmed a plan to buy £15 million in SCi stock, and to take control of the publisher’s distribution in the US, Canada and Mexico.

In addition, SCi said the move was just the part of a plan to raise £60 million through an issue of 171,605,424 new shares at 35 pence per share.

“Today we have significantly strengthened our relationship with Warner Bros. – one of the world’s largest media groups – to create an exciting strategic partnership, giving us increased scale in the North American market, to the benefit of all our major franchises,” said SCi CEO Phil Rogers.

Looks like the “sale” is off, then. More on GI.