Japanese console RPG giant Square Enix recently launched a high profile, £84.3 million ($120 million USD) bid for troubled Tomb Raider publisher Eidos in a continuing effort to diversify its global portfolio of titles.  Times certainly proved tough for Eidos up until then, as Square Enix's offer was seen as the bright torch which helped the UK-based publisher's share value nearly double the day it was announced.  Reports suggested that a potential roadblock for Square Enix would be Time Warner Inc., who currently holds a 20 percent stake of its own in Eidos.  Now it appears the road just got a lot less bumpier for Square Enix.

Square Enix confirms it has received support from Time Warner itself, who is expressing an "irrevocable undertaking" to vote in favor of the Japanese publisher's acquisition of Eidos.  Up to 35 percent of Eidos' current shares appear to be in favor Square Enix's buyout of the publisher as a result of Time Warner throwing its weight behind the move.  The deal must still be approved internally via vote this March, after which it must also obtain regulatory consent.  Eidos' board of directors is already advising shareholders to accept the offer.

Time Warner reserves the right to change its favorable stance toward Square Enix's bid should another party come forward with an even better offer for Eidos, perhaps even from Time Warner itself.  Yet if all goes well for Square Enix, they just might count on being able to leverage Eidos' stable of franchises by as early as April.