DISCONTINUED OPERATIONS

3 Months Ended

Jun. 30, 2011

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

2. DISCONTINUED OPERATIONS

        In February 2010, we completed the sale of our Jack of all Games third party distribution business, which primarily distributed third party interactive entertainment software, hardware and accessories in North America, for approximately $44,000, including $37,250 in cash, subject to purchase price adjustments, and up to an additional $6,750 subject to the achievement of certain items, which were not met. In April 2011, we settled on the purchase adjustments and as a result the purchase price was lowered by $1,475. Consequently, the net purchase price after the settlement was $35,775. The sale has allowed us to focus our resources on our publishing operations. The financial information of our distribution business has been classified as discontinued operations in the Condensed Consolidated Financial Statements for all of the periods presented.

        The following is a summary of the results of the discontinued operations:

		Three Months Ended June 30,
		2011			2010
Loss before income taxes		$	(94	)	$	(894	)
Loss on sale			—			(274	)
Benefit for income taxes			—			(120	)
	Net loss	$	(94	)	$	(1,048	)

        The following is a summary of the liabilities of discontinued operations:

		June 30, 2011		March 31, 2011
Liabilities of discontinued operations:
Current:
Accrued expenses and other current liabilities		$	1,391	$	2,842
	Total current liabilities		1,391		2,842
Other non-current liabilities			2,905		3,255
Total liabilities of discontinued operations		$	4,296	$	6,097