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Default Atari - Latest Financial Woes @ gamesindustry.biz

November 20th, 2007, 20:54
The dire financial situation of Atari US has been in the news quite a bit lately.
This article examines the latest statement from the struggling company in response to yesterday's announcement of "a second quarter net loss of USD 7.7 million, with net revenue down from USD 28.6 million to USD 13.3 million." As stated below, one source of possible additional funding includes the company's licensed and owned IP's :
With the company unlikely to receive funding from parent Infogrames, it is considering suspending current development projects, laying off more staff and selling its remaining intellectual property…
…"We continue to explore various alternatives to improve our financial position and secure other sources of financing which could include raising equity, forming both operational and financial strategic partnerships, entering into new arrangements to license intellectual property, and selling, licensing or sub-licensing selected owned intellectual property and licensed rights," said the publisher.
More information.
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