Square Enix Invests In New Media Company

According to a report from consumer website GameSpot, representatives from Square Enix, new acquisition Taito and digital content solutions provider Faith Inc. have announced the formation of a new company named Brave Inc. Brave is intended to be a wide-ranging media company, initially offering promotion and distribution services for mobile phone content, but also working with music and movie studios to fund and produce projects and user communities. The three companies have invested ¥80 million ($683,000) in the new company – 10 percent from Square Enix, 30 percent from Taito and 60 percent from Faith. As a result, Faith will maintain a controlling stake in the new business. The move is the latest in a number of diversification attempts by Square Enix, which recently reported reduced financial predictions, to add to its business. Other recent initiatives, both of which have involved external, non-games related partners, have included the formation of a new serious games business and a partnership with Matsushita to produce a new multimedia operating system.