Electronic Arts to Create Major Studio in L.A.

In its financial report issued yesterday, videogame juggernaut Electronic Arts revealed that it will consolidate its satellite facilities in Los Angeles, Irvine and Las Vegas into a major game development studio in Los Angeles.

The restructuring is expected to begin during the fourth quarter of 2003. Once complete, the company will have major centralized studio operations in Vancouver, British Columbia; Redwood Shores, Walnut Creek and Los Angeles, Calif.; Orlando, Florida; Tokyo, Japan; and Chertsey, United Kingdom.

The news comes as Electronic Arts posts record revenues of $1.23 billion for the quarter ended Dec. 31, 2002. The 48% gain is due largely in part to the success of the game titles Harry Potter and the Chamber of Secrets, James Bond 007: Nightfire, FIFA Soccer 2003 and The Lord of the Rings: The Two Towers.