Is Angry Birds really worth $1.2 billion?

Let’s think about this rationally for a minute. Yes, Angry Birds is unfortunately one of the most popular video games of all time. But is the avian phenomenon enough to propel the value of Rovio to over a billion dollars?

Personally, I wouldn’t think so, but then again I’m not a stuffy corporate drone or bean counter wearing a suit, tie, shiny cufflinks and freshly polished shoes.

Now, I may just be a scruffy hack desperately in need of a haircut, but I can’t help but wonder why investors would be willing to fund the Angry Birds creator and raise the value of Rovio to $1.2 billion.

Do they really need that much cash to design yet more games in which hapless birds are launched at greedy pigs with a slingshot?

Probably not. And frankly, I find the whole Angry Birds franchise to pale in comparison to more serious titles like, oh, say Elder Scrolls, Modern Warfare and Call of Duty.

Think about it. There are dozens of games – both indie and commercial – that could really use a sizable cash injection to get things moving. Some, if not all, are probably 10x more intelligent and immersive than Angry Birds.

But I guess that isn’t the point, because it’s all about the money, right? 

IMHO, the video gaming industry – propelled by sub-par mobile titles – is fast becoming little more than a monstrous digital pusher selling virtual junk to addicts.

The masses want quick fixes, and mobile titles like Angry Birds obviously help tide people over during long commutes, boring meetings, presidential debates, and well, just the hellish experience of life itself.

But I digress. You probably want to know more about the altruistic investors salivating over the prospect of sinking cash into the Finnish-based Rovio.

Although the details have yet to be confirmed, Bloomberg names the companies most likely to invest in Rovio as Electronic Arts (boo), Zynga (to be expected), News Corp (seriously?!) and Walt Disney (obviously).

Why, you ask?

Well, Wedbush analyst Michael Pachter believes the companies could help Rovio reach new audiences.

“I can see how Disney would take ‘Angry Birds’ and turn them into a theme-park ride and a movie,” said Pachter. “Zynga could take ‘Angry Birds’ and make it into ‘FarmVille.'”

Oh, joy!