People say Jane Cavanagh, the founder of the SCi Entertainment Group, has just released the company's 2007 annual report where they revealed that sequels to the Tomb Raider, Hitman, and some of their other IPs are in development. There's an uneasy air surrounding its emergence, however, since SCi's own investors called for the ousting of Cavanagh a few months ago. To find out more, head on over to the full article.

The gaming world was recently greeted by the news of Eidos signing a beneficial deal with Time Warner, but it looks like there were some dire consequences: according to some insider sources, Eidos has laid off its PR, marketing and sales departments in what seems to be in exchange to Time Warner's financial assistance. Read more about it in the full article.

Yesterday we reported that Eidos Interactive's parent company, SCi Entertainment, confirmed that it was open for business. Today, we got an update on this matter. Apparently, the company just rejected an offer from a mystery suitor. Read more on this in the full article.

It seems like SCi Entertainment is finally getting into the role of the reluctant "father", ready to give away his daughter (i.e. Lara Croft) at the altar. It was confirmed recently that SCi will be entertaining the possibility of opening a major business investment in the near future to help get the company back on track. You can read a statement released by the company explaining this move in our full article.

It would seem that SCi is going through some rough times. First, a management upheaval recently rocked the company, and now it looks like SCi is going to cut 25% of its jobs as part of a radical restructuring plan. More corporate news follows after the jump.

SCi Entertainment, the company that owns the Tomb Raider franchise, is currently experiencing an upheaval. Owing to falling shares and the lack of offers to purchase the company, shareholders are now demanding for the resignation of Jane Cavanagh, founder and chief executive of the company. Details in the full article.

Now that Tomb Raider: Anniversary is already on shelves (the Wii version's heading to Europe soon), a recent trademark filing by Eidos Interactive seems to shed at least some light on Lara Croft's next adventure. Find out more about the rumored eighth Tomb Raider game at the  full article.

It looks like Lara Croft won't be getting a new daddy any time soon. Contrary to prior reports that Ubisoft will be vying for SCi Entertainment, the company who owns the rights to one of the video gaming world's most popular female characters, it was announced by a spokesman that "Ubisoft has no intention of making an offer for SCI-Eidos."

Although Ubisoft won't be bidding for any shares to SCi Entertainment, SCi has been considering a number of potential buyers whose identities they were not willing to reveal just yet.

It looks like anybody who's interested in owning the hand of the fair Miss Croft won't find it cheap either. Analysts have reported that SCi management, led by Chief Executive Jane Cavanagh, will not accept anything less than 500 pence (around US$ 10) a share and could lead to something as high as GBP 300 million (US$ 600 million).

The three biggest bidders previously reported were Time Warner, Ubisoft, and an unnamed Chinese company. Ubisoft, however, explained that SCi's valutation did not fit with Ubisoft's "profitability criteria." In other words, the game for SCi's bid was just a little to rich for its blood.

Ubisoft's spokesman explained it further saying "we are looking at other opportunities for external and internal growth which can create more potential value for shareholders."

Here's an update on Lara Croft's rather sensitive position as the company that owns the franchise, SCi Entertainment, is up for grabs. While offers are primarily done behind closed doors, it's known that Ubisoft has made a bid for the company, as well as Time Warner. A third party, unnamed Chinese company, has also expressed interest.

Times Online supposes that the presence of three companies interested in the franchise, two of them major players, may result in a bidding game, which is no small thing considering that that the company's stock has risen significantly since its announcing its interest in being open to being taken over by third parties.

Currently, the company is estimated to be worth GBP 300 million (US$ 606 million), with Time Warner holding 10% of its shares. Another player, Electronic Arts, may also be expressing interest in SCi Entertainment, but whether it will participate in the bidding game is doubtful since it is the largest shareholder in Ubisoft.

Reports of Ubisoft staking a bid in a buyout of UK games publisher SCi may have been premature as Financial Times reports about a source in the company saying that they're not exactly pushing for a takeover. "We are not in discussion with SCi Entertainment any more than we are with any other company in the industry," says the source who is familiar with the SCi situation.

The Financial Times report suggests that the more likely development to happen is a buyout from a private equity firm rather than an assimilation from a major player in the industry.

Ubisoft once pursued Eidos, makers of the Tomb Raider franchise, but failed in the pursuit by offering a sixth of what SCi is currently worth. Other big firms reported to be after SCi Entertainment are Electronic Arts and Time Warner.

Incidentally, the name of Iranian business tycoon Robert Tchenguiz has been involved in the issue as a possible bidder. The billionaire subsequently denied the rumor even though he owns 20 percent of SCi.

SCi admitted last week that it is holding preliminary buyout talks with interested parties, though it did not reveal specific names. Analysts suggest that the entire deal could be worth some US$ 600 million.