Thursday, 6 June 2013

Under The Hammer?

There has been a deal of speculation recently about the long term future of Games Workshop.

The policies of the company involving raising short term profitability at the potential loss of long term strategy smacks of something being fattened up for sale.

Inevitably rumours have started circulating, eg here.

Selling a public company is somewhat more difficult than a private possession and would inevitably have to become public information.

I suspect this rumour is not true but GW's management style will continue to fuel speculation.


  1. Most of the internet fanboys are in a panic over the idea. However even when FASA was dead & gone with (at the time) no hope of a resurrection of Classic Battletech, we were still playing it as we had both minis & rules.

    So if GW if goes the same route We'll just chill out & see what becomes of it. Till then it'l be business as usual at the game tables.

    1. Wise words.
      Personally, I don't care much one way or tbe other. GW has already changed hands a few times.

  2. Well - GW is a very difficult 'sell' because of the shops - the retail chain is a huge cost and a big commitment in terms of leases - not many 'toy' companies (likely buyers) understand retail or want to take on that kind of cost base - so in many ways the fact that there are so many shops is a big barrier to any potential buyer.

    As you say - GW is a PLC - so anyone acquiring a significant portion of the shares has to do so openly - you can't 'secretly' buy a controlling interest in a PLC - shareholdings above a certain amount have to be made known.

    I don't think GW is being fattened up for sale - it's just being run by people who don't have any real empathy for games or gaming - they're just following the money - and that's what running a business is about and who can blame them.

  3. Rick

    That the retailing arm of GW is a major barrier to a takeover never occurred to me but I can see why that is true. The structure of GW looks very old fashioned. Such a high level of vertical integration was prized in the 80s but is surely out of favour these days. Toy companies don't have shops. Retail companies don't manufacture.

    I take the point that the duty of a commercial management is to make money but still feel that long term profitability is being sacrificed to short term gain.

    Where I once played GW games I now often play Warlord or Mantic who both have far better game designers. :)

    I will spare your blushes by not naming names! :)