Hot Five: Modern Times Group picks up Hutch, Angry Birds Legends cancelled, and why players prefer ads over paying

To help you keep on top of a busy news cycle and the latest hot topics in mobile gaming, each week we round up the five most-read stories on PocketGamer.biz.

Read on and digest…

1. Angry Birds Legends plucked from development

Rovio has cancelled development of its new turn-based RPG Angry Birds Legends.

The decision has been made to not continue production of the previously soft-launched title after the studio confirmed that the game was not where they wanted it to be and therefore felt a full release wasn't warranted.

2. Wizard Games secures investment from Tencent

Chinese games studio Wizard has secured an investment from Tencent.

The exact figure is unknown, though it is said to be several million in Chinese renminbi.

3. 90% of your players prefer ads over paying - now what?

Mobile Groove founder and lead analyst Peggy Anne Salz discussed why players seemingly prefer games with ads over paying in a guest post.

4. Modern Times Group acquires mobile studio Hutch

Modern Times Group has acquired mobile games developer and publisher Hutch in a deal worth up to $375 million.

As per the agreement, there will be an upfront cash sum of $275 million, while the remaining $100 million will come in the form of earn-out payments.

5. My.Games invest in three more mobile studios

My.Games Venture Capital has invested in three mobile studios, including Appyfurious, Purple games and AppLife.

The company will purchase a minority stake in all three studios, however there will be an option to increase its share to a majority holding.