Speaking words of wisdom: let it be, let it be. Well, we do hope it will be - because if recent news holds out, we just might get a Beatles release for Rock Band or Guitar Hero (maybe for both games, if Lucy's diamonds shine down on us just right) - just like how Aerosmith got their own version for Guitar Hero. Back in March, ATV Music (in partnership with Sony) already expressed interest in bringing the Fab Four's music to GH. Recent accounts, however, report that a deal may finally be settled in the coming weeks.

Electronic Arts' John Ricitiello made a bold statement regarding the state of entertainment media. He spoke of video games and movies. With the way things are developing now, he said that Hollywood needs video games more than it needs them. Find out the details in the full article.

A lot of people have split opinions on the effectiveness of in-game advertising. However, Sony's chief executive Howard Stern expressed his doubts on the potential of that particular marketing trend. He wasn't alone in the idea either; other big names from major companies such as NBC Universal and Activision Blizzard voiced similar sentiments.

For more details, check out the full article after the jump!

Activision's top two executives Robert Kotick (CEO) and Brian Kelley (co-chairman) will be sharing a US$ 40 million payout in change-of-control payments for the Vivendi-Activision merger.

The duo will each be receiving US$ 10 million plus shares that's valued at about the same amount for change-of-control payments. More in the full article.

A Financial Times article reported that Sony may incorporate a media download service for both music and video content, in an effort to step up the PlayStation 3's image as a multimedia player. Sony chief executive Sir Howard Stringer also revealed  that Sony is working on improving the communication between the PlayStation devices, most probably between the PSP and PS3. Stringer explained:

We are trying to get our devices to talk to each other efficiently. PlayStation Network should migrate from gadget to gadget. But initially it starts with PlayStation devices and then to TV and beyond. That's the goal.

It should be noted that the PS3 was just lauded as the Best Gadget of the Year 2007 due to its multimedia device potential. T3 Awards, the award-giving body which granted the prestigious title, also gave special mention to the PS3's TV tuner.

Stringer wasn't able to give a timeframe for the project. "We won't know how effective [the effort] is until early next year," he said.

Reports of Ubisoft staking a bid in a buyout of UK games publisher SCi may have been premature as Financial Times reports about a source in the company saying that they're not exactly pushing for a takeover. "We are not in discussion with SCi Entertainment any more than we are with any other company in the industry," says the source who is familiar with the SCi situation.

The Financial Times report suggests that the more likely development to happen is a buyout from a private equity firm rather than an assimilation from a major player in the industry.

Ubisoft once pursued Eidos, makers of the Tomb Raider franchise, but failed in the pursuit by offering a sixth of what SCi is currently worth. Other big firms reported to be after SCi Entertainment are Electronic Arts and Time Warner.

Incidentally, the name of Iranian business tycoon Robert Tchenguiz has been involved in the issue as a possible bidder. The billionaire subsequently denied the rumor even though he owns 20 percent of SCi.

SCi admitted last week that it is holding preliminary buyout talks with interested parties, though it did not reveal specific names. Analysts suggest that the entire deal could be worth some US$ 600 million.

We're all hungry for a PS3 price-cut. No buts, no excuses. Fanboys and haters alike would rejoice when our wish finally comes true. Unfortunately, it's not likely to happen anytime soon. The good thing: Sony CEO Howard Stringer recognizes our pleas.

Stringer told the Financial Times in an interview, "I think that the public would like the cost to be lower, there's no question about that." However, it doesn't seem easy to cut prices when the company is already losing money for every console sold. Asked how much they could cut, he could only answer, "That's what we're studying at the moment; that's what we're trying to refine."

"It’s a good story right now, 'Will PlayStation 3 get to Christmas?' And the answer is, of course it will get to Christmas," he continued after stating we'll hear something about the price drop by Christmas. What good story he's talking about, we can only guess.

Stringer is pretty positive about the PS3's future. Here's his take:

It takes a long time for producers, and more time because of the cost factor, to embrace the full bandwidth of PlayStation 3. It’s only using 20 percent of it right now. And producers will always wait to see how it’s going, and once they use the full bandwidth the games experience is stunning. And their games will get better, so I don't worry about that at all.

Even so, he still acknowledges Nintendo's success with the Wii. "I would be the first to say to you that Nintendo Wii has been a successful enterprise and a very good business model compared to ours... Because it's cheaper," he said.

Beyond that, he doesn't believe the competition's waving stick is more fun than their powerhouse. "Fun is in the eye of the experiencer... I think PlayStation 3 is following a particular trend of 1 and 2, and if you looked at the history of it, it's a very similar history."

Next Generation notes that contrary to a report in the Financial Times that suggested that Sony is rethinking their pricing strategy for the Sony PlayStation 3, the company has released a statement that refutes this. The statement says:

PS3 prices and shipment plans for the future should be determined by market trends and competition. Sony currently doesn't have any specific plan to cut the PlayStation 3's price.

Despite analysts noting that a price cut is inevitable, given the competition that the company is seeing from Microsoft and Nintendo, Next Generation says that Sony's plan is to hold for now and wait for Blu-ray drive demand to increase.

It is noted that not only would a price cut be financially difficult, but it will also send a message that confidence in their Blu-ray strategy is waning.

In the wake of Sony's successful non-profit partnership with Stanford University for the Folding@Home program on the next gen PS3 videogame console, several companies have begun discussions with Sony about "possible commercial applications" for the PS3.

In an interview with the Financial Times, Masa Chatani, chief technology officer at Sony Computer Entertainment, revealed that Sony had received numerous inquiries regarding the "distributed computing" model they are using for Folding@Home.

"This kind of computing model could be used in a commercial application," Mr Chatani said. "For example, a start-up or a pharmaceutical company that lacks a super-computer could utilise this kind of infrastructure. We are discussing various options with companies and exploring commercial applications."

Chatani admitted that a commercial endeavour would be more difficult to launch because it would be hard to convince users to let profit-making companies use the power of their PS3s for free. According to the Financial Times, Sony is "currently studying whether it would need to offer incentives, such as free products, to persuade PS3 owners to participate" -- the answer to which is (for this writer, at least) quite obviously "Yes".

First we had the self-proclaimed French "Prime Minister of Video Games", and now the video game industry has a new supporter in the form of UK Minister for Creative Industries & Tourism, Shaun Woodward.

In an interview with the Financial Times, he notes some very interesting points on why exactly an academy for video games should be established. These reasons include the fact that a) the UK is the third largest game manufacturer in the world, and b) if there are schools that are dedicated to television and film, then why not a school which is dedicated to preparing and instructing students about the making of video games and the video game industry in general?

One has to admit that the man has a point. On top of that, he also notes that this may be one efficient way of putting some members of society (who are traditionally perceived as lazy teenagers) to good use, when he says that, "You might have kids who traditionally have quite a difficult time coping with traditional academic subjects but happen to be the most amazing gamers..."

In the meantime, we're hoping that Woodward's visions bear fruit, as not only will they have economic and social benefits, but it's also about time that the general public recognizes that video games are not just a past time anymore, but an entire industry unto itself. Also, with countries like Japan, Korea, and the U.S. already having established educational institutions that specialize in video games, then maybe it's about time that Europe follow suit.