And dam is it big!!!! (Tokyo)- In an announcement early this morning, Nintendo and Sony executives announced that they had come to a legal agreement over the rights to the name 'Playstation'. The name, which was originaly given to a joint-venture CD rom based add-on for the Super Nintendo, was technically, a joint-owned copyright. Sony has agreed to pay Nintendo 10% of all past and future proceeds made off of the name. This ammounts to a whopping 2.3 billion USD in back-payments. Nintendo will allow Sony to pay the money back in installments instead of a lump sum over the next 20 years. However, Nintendo has plans for their new found source of income. They will immidietly finance a new game studio called 'The Artists Group' which will feature members of Sega, Nintendo, Namco, Capcom, Konami, Tecmo, Square-Enix and more to collaborate on projects for Nintendo systems, and exchange copyrighted properties. The first projects announced out of this new studio are a new RPG using various gaming icons as the central charachters, a new Smash Brothers game, featuring mascots from accross the companies, including Pacman, Megaman, Sonic, Mario and more, as well as a new Sega-AM2 developed racing game that will also feature multiple icons from the various companies. The final collaboration is the recently announced Viewtifull Joe from Capcom stuidios. Nintendo has also promised that completely original more collaborations between studios will take place in the future, but for now, they will be focusing on quality content showcasing the newfound bond between the various development houses. Contrary to internet rumors however, Nintendo has not as of yet purchased any software developers, and as such, all members of the Artists Group will be allowed to explore development on other systems of their own accord. More as it develops. http://www.consoletalk.com/News/FullStory.php?id=146 It will change the face of gaming as SONY are bound to not use the playstation moniker for their next console. By the looks of it too, there will be some sweet sweet games from the cream of Japanese developers. I don't think it will necessarily cause gamecubes to fly off the shelves yet nor really create a big dent in PS2's godliness.... but it is a blow to SONY and it is pleasing to see while MS is paying 2 billion to bail the X-Box out, Ninty is getting 2 billion for not doing a whole lot!