Press Coverage – Virgin buys stake in Mastertronic – The Games Machine, December 1987

The Games Machine, Dec 1987, announces the first stage of Virgin’s takeover. They were wrong about Mastertronic going public – this had been Frank Herman’s dream for a long time but our track record was not good for a stock exchange listing. We had actually tried to be bought out by 3is (Investors in Industry) and when they withdrew, Richard Branson offered to buy in on the same terms. Mastertronic Group Limited was specially formed to be the vehicle for the buyout. A year later Virgin acquired the remaining 55% of the shares.