Warner Bros, MGM invest in The Hobbit dev Kabam

Social game developer Kabam today revealed a couple of high-profile investors for the company, as Warner Bros. Entertainment and MGM Studios have both invested undisclosed amounts. Warner Bros. and MGM have partnered on the investment, noting that the success of The Hobbit: Kingdoms of Middle-earth on mobile spurred them on to build a closer partnership with Kabam. The Hobbit free-to-play game was commissioned earlier this year as a complimentary app to go alongside the launch of the blockbuster movie. Following the game's release on the iOS App Store, it currently sits in the top 25 grossing apps in the U.S.