Time Warner released its second-quarter fiscal results today and buried within the segment information was a little note about Turner Broadcasting's GameTap service. The company mentioned a "$18 million noncash impairment of GameTap as a result of Turner's decision to sell its on-line video game business."
In May GameTap decided to suddenly shut down its entire editorial team, which came as a surprise to many since the company had assembled an all-star cast of editors.
Then, in July GameDaily BIZ interviewed GameTap's VP of Content, Rick Sanchez, who said that talk of the online service's death was "greatly exaggerated." He would not confirm whether or not GameTap has been profitable (we'd venture to say no...) but he did state that the group has been meeting its P&L expectations internally.
We've contacted GameTap representatives for further comment on the company's potential sale.
Update: Turner has now provided us with the following statement: "There is considerable marketplace interest in the GameTap business and brand. We are considering various strategic options but have reached no final agreement as yet. When there is a resolution, we will announce it."
