Electronic Arts' John Ricitiello made a bold statement regarding the state of entertainment media. He spoke of video games and movies. With the way things are developing now, he said that Hollywood needs video games more than it needs them. Find out the details in the full article.

A lot of people have split opinions on the effectiveness of in-game advertising. However, Sony's chief executive Howard Stern expressed his doubts on the potential of that particular marketing trend. He wasn't alone in the idea either; other big names from major companies such as NBC Universal and Activision Blizzard voiced similar sentiments.

For more details, check out the full article after the jump!

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.

First we had the self-proclaimed French "Prime Minister of Video Games", and now the video game industry has a new supporter in the form of UK Minister for Creative Industries & Tourism, Shaun Woodward.

In an interview with the Financial Times, he notes some very interesting points on why exactly an academy for video games should be established. These reasons include the fact that a) the UK is the third largest game manufacturer in the world, and b) if there are schools that are dedicated to television and film, then why not a school which is dedicated to preparing and instructing students about the making of video games and the video game industry in general?

One has to admit that the man has a point. On top of that, he also notes that this may be one efficient way of putting some members of society (who are traditionally perceived as lazy teenagers) to good use, when he says that, "You might have kids who traditionally have quite a difficult time coping with traditional academic subjects but happen to be the most amazing gamers..."

In the meantime, we're hoping that Woodward's visions bear fruit, as not only will they have economic and social benefits, but it's also about time that the general public recognizes that video games are not just a past time anymore, but an entire industry unto itself. Also, with countries like Japan, Korea, and the U.S. already having established educational institutions that specialize in video games, then maybe it's about time that Europe follow suit.

Rumor has it SCi-Eidos, which made the widely popular Tomb Raider game franchise that eventually became a movie franchise, is doing it the other way around. The netvine was buzzing about a not-so secret meeting between the game developer and Time Warner. The agenda: produce a series of games based on New Line Cinema properties. According to Financial Times, the deal could see Time Warner acquiring a 10 per cent stake in SCi-Eidos.

If the rumor is true, Sci-Eidos will have a great variety of material  to turn into video games. There's "Austin Power", "Snakes on a Plane", and the classic "Nightmare on Elm Street". We would love to see the sexy British beast team up with Lady Lara!

A spokesperson for SCi-Eidos issued a statement saying "Eidos does not comment on speculation or rumour."