Brash Entertainment, a new Los Angeles company, said it is launching today with $400 million in financial backing to offer high-quality video games based on movie releases, television and music.
This is a massive amount of money, considering that the video games industry is crowded, with both traditional console-focused giants and scores of independent start-up efforts focused on new multi-player and casual games on the Web.
Brash is backed by ABRY Partners, New York Life Capital Partners, Northwestern Mutual Life Insurance, and America Private Equity Fund.
The move to partner with independent development studios and writers in Hollywood to license material for games comes at a time when some large incumbents such as Electronic Arts have moved away from such licensing, and instead sought to build their own content. EA, for one, has struggled and seen its stock price drop lately. EA in part has struggled by depending too heavily on the Sony PlayStation, and missing out on the rise Nintendo’s Wii.
The company’s statement is here.
Brash says it has partnered with five major film studios and that Warner Bros. Home Entertainment Group will distribute Brash’s video games.
More from the WSJ here.