Pachter: Gibson is extorting money from Activision, Harmonix |
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If you've read about Gibson Guitar Corporation going on a suing frenzy over the Guitar Hero and Rock Band (PS3, Xbox 360, Wii) videogames, then here's another update on the matter: Wedbush Morgan Securities analyst Michael Pachter has heard about the issue as well, and has come in to say what he thinks about the entire matter. And what he said could potentially be quite the firestarter.
So, what did ol' Mike have to say about the entire matter? Here is his exact statement, verbatim:
This is a poorly masked attempt to extort money.
They are using any way they can to have Activision write them a check.
Ouch. That's certainly direct! And it seems that other analysts agree with him, in the argument that the recent litigations initiated by Gibson are in fact efforts to capitalize on the success of both the Guitar Hero and Rock Band franchises.
Well, effort to capitalize or not, they're quite serious about it, too - the guitar-making company have issued orders to popular retail outlets such as Wal-Mart, Target, Kmart and others to stop selling the Guitar Hero series. These orders have not yet been followed, however, with Amazon.com stating that while they are aware of the situation, they will only take appropriate steps when they receive a complaint. Until then, the sales must go on.
24 Jumps Buy two, get one free at Best Buy
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