"The new console war will reinvigorate the industry" says Playstation America CEO Jack Tretton

Speaking to Fox Business, Playstation America's President and CEO Jack Tretton said that the upcoming "console war" between the PlayStation 4 and Xbox One would "reinvigorate" the games business. He went on to liken releasing games for old consoles to "TV re-runs" and discuss why the games industry is healthier than ever.

"We're talking about the seventh year of a console and I guess if you used a TV analogy, you might say, boy, the re-runs of a show we released seven years ago aren't doing as well as before," said Tretton, asked to elaborate.

Tretton also threw down the gauntlet to the PC and handhelds: "This will be the biggest launch in history, and you are going to see validation that gaming is healthier than it's ever been, and the console is at the top of the entertainment pyramid".

I suppose we'll be able to see for ourselves when the PS4 comes out on November 15 in the US.

Thanks, Computer and Video Games.