Time Warner Inc. (NYSE: TWX) is trading up almost 1% at $22.50 this morning. It appears that the company may have a second wave of business from its box office hit Happy Feet: video games.
This morning Sumner Redstone's Midway Games (NYSE: MWY) announced that it had shipped more than 1.8 million copies of its "Happy Feet" video game, which is of course the game based on the popular dancing penguin Warner Bros.' movie. MWY shares have been dead of late and are down more than 50% from yearly highs, but shares are up 11% today as it is a niche-oriented video game developer with more exposure to individual game launches than larger video game publishers.
Even though Redstone competes via Viacom, Inc. (NYSE:VIA), it is amazing how frequently media moguls end up helping out their competitors in media time after time.
This morning Sumner Redstone's Midway Games (NYSE: MWY) announced that it had shipped more than 1.8 million copies of its "Happy Feet" video game, which is of course the game based on the popular dancing penguin Warner Bros.' movie. MWY shares have been dead of late and are down more than 50% from yearly highs, but shares are up 11% today as it is a niche-oriented video game developer with more exposure to individual game launches than larger video game publishers.
Even though Redstone competes via Viacom, Inc. (NYSE:VIA), it is amazing how frequently media moguls end up helping out their competitors in media time after time.
Animated movies are always tricky for a movie studio. They may have all of the high costs associated with action and sci-fi films because of extra labor required and they can prove difficult to forecast. However, Time Warner Inc. (NYSE: TWX) has scored a major win with its "Happy Feet" animated penguin movie. 
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