Why big news outlets need someone who knows video games

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Posted by Hans Wuerflein

Just in case you thought The Wall Street Journal was a good source for gaming information, you might want to reconsider.

In a recent article Dow Jones Newswire article addressed speculation that publisher THQ will be bought out by either Time Warner or Viacom. The article, published by The Wall Street Journal, gets its acronyms mixed up and hilarity ensues:

“While we won’t be surprised by an offer for THQ, we believe that Take-Two Interactive Software Inc. (TTWO) could be a better take-out candidate,” said ThinkEquity’s Bagga, adding that Take-Two has a number of strong franchises and a number of wholly owned Internet Protocols. Wholly owned IPs not only carry higher profitability, but also are more valuable to media companies because they could be adapted into movies, TV serials and online destinations.”

I kind of doubt THQ somehow bought the entire basis for how the Internet works without anyone noticing.

For the record, IP in the gaming (and really any media) sense refers to Intellectual Property, or the characters, location, story and really whatever else makes up book, movie, comic book, game, etc.  For example, THQ owns the IPs for Red Faction and Saints Row, but licensed the IPs for WWE wrestling games.

The second half of the statement is accurate.  They just managed to fail miserably at checking what IP stands for in this case.  It doesn’t even make sense in the context of the sentence after it.

It’s completely understandable that the average person wouldn’t know that particular acronym, but this is someone covering the business of the video game industry.  Even if it isn’t their main job, they owe it to their readers (and their own career) to know this stuff, or at least look up the correct definition.

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