Microsoft CEO Quashes Sega Buy-Out Rumours

This article comes from Highwaygames.com

Microsoft CEO Steve Ballmer announced at a conference in Redmond, Washington that his company has no intention of buying a majority stake in Sega, putting an apparent end to one of the game industry's most pervasive buyout rumors. "There are no plans for that," the Kyodo news service quoted him as saying at the conference. "I don't think that will happen."

Sega is currently trying to recover from large amounts of debt, a decline in its console-software business, and a failed merger with pachinko-machine maker Sammy. Hisao Oguchi, the company's new president, said publicly that "it is possible for Sega to restructure itself independently" and announced a bold plan in mid-May that called for layoffs, development consolidation and new tie-ups with overseas game studios.

SOURCE: GamePro.