LOS ANGELES (Reuters) - Mobile game publisher Glu Mobile Inc. (GLUU.O: Quote, Profile, Research said on Wednesday it struck a global deal to develop and market games based on certain films and games from entertainment producer Warner Bros. Digital Distribution.
In a separate agreement, Glu will also distribute some of Warner Bros. Entertainment's mobile games in 2007 in North and South America, including titles based on the films "Ocean's Thirteen" and "300."
Warner Bros. Entertainment's library also includes cartoon brands such as DC Comics, Looney Tunes and Hanna-Barbera.
Financial terms were not disclosed. Warner Bros. is part of Time Warner Inc. (TWX.N: Quote, Profile, Research
Glu Chief Executive Greg Ballard told Reuters that mobile phone carriers have been forcing consolidation in the mobile game business by choosing to work with a handful of game publishers.
"U.S. and global market share over the course of the last six months has consolidated around three companies, Electronic Arts Inc. (ERTS.O: Quote, Profile, Research, Gameloft (GLFT.PA: Quote, Profile, Research and Glu," Ballard said.
Glu, which went public in March, reports financial results after the bell on Wednesday.
Company shares, which debuted at $11.50, were trading at $11.49 in midday trade on the Nasdaq.
Glu Mobile Reports First Quarter 2007 Financial Results
SAN MATEO, Calif. --(Business Wire)-- Glu Mobile Inc. (NASDAQ: GLUU) today announced financial results for the first quarter ended March 31, 2007. Glu reported first quarter consolidated revenue on a GAAP basis of $15.7 million, an increase of 94 percent from the first quarter of 2006. Including the proforma effects for iFone which was acquired on March 29, 2006 as if it had been acquired at the beginning of fiscal 2006, the Company's revenue grew 50 percent on a year over year basis during the first quarter 2007.