City talk

● ”Games Workshop’s sci-fi and fantasy miniatures provide war without end to its devotees,” says Lex in the Financial Times. “But the group must avoid one conflict at all costs.” A rights deal with Amazon to produce TV seriesgames could bring a new source of income as well as attracting new players and boosting sales of its products. The success of and, which gave a big boost to Nintendo and Mattel this year, show the potential. Yet Games Workshop has been slowly moving its intellectual property into the mainstream for many years through video games adaptations that already generate rising royalties. The possibility of expanding into TV and film has been long anticipated. The risk is that clumsy adaptations alienate the long-standing fans who are the foundation of its business. Much of the potential upside is priced into the shares. “The company now needs to protect its re-rating.”