Your mourning is *little* bit late, as this has nothing to do with the company that made your childhood games. That company stopped existing in 1996 and/or 1998, depending on whether you're talking about hardware or software. This bankruptcy is really about the company that used to be Infogrames, which bought the rights to Atari's IP from Hasbro some years ago.
On Monday, January 21, 2013 11:11:11 AM UTC-6, cwpreston wrote: > > This gives me a sad. Atari is one of the biggest names of my childhood; > while I rarely play the titles I have on my iPad I still have a lot of > nostalgic fondness for them. > > Atari files for bankruptcy, hopes to survive by selling off Pong and other > assets <http://www.engadget.com/2013/01/21/atari-chapter-11-bankruptcy/> > > [image: Atari files for Chapter 11 bankruptcy aims to sell assets > including brand logos, gaming > history]<http://www.engadget.com/2013/01/21/atari-chapter-11-bankruptcy/> > > Atari Inc. <http://www.engadget.com/tag/atari/> has filed for bankruptcy > protection, looking to separate from its not-so-profitable French owners > and pitch for independent funding. In the process, the elder statesman of > gaming <http://www.engadget.com/2012/09/13/atari-2600-pc-case-mod/> has > secured $5.25 million of debtor-in-possession financing and will aim to > sell assets, including its famous logo (which is already licensed out) > and games like > Pong<http://www.engadget.com/2012/12/02/dutchman-celebrates-pongs-40th-birthday-with-augmented-reality-port/>, > > Asteroid <http://www.engadget.com/tag/asteroid/> and Tempest, in the next > 90 to 120 days. In the last few years, Atari Inc. has shifted its focus > from traditional retail gaming to digital titles and > licensing<http://www.engadget.com/2010/08/12/atari-attempts-to-revive-itself-by-bringing-the-old-classics-onl/>, > > with mobile platforms proving especially lucrative for the parent company, > Atari SA. The gaming arm is aiming for a return to former glory and, it > hopes, the chance to go another 40 > years<http://www.engadget.com/2012/06/27/atari-celebrating-40-years-on-the-dots/> > . > > [Photo Credit: Marc > Grimm<http://www.pong-mythos.net/index.php?lg=de&main=Team&site=05:00:00> > ] > Show full PR text > > *Iconic Brand Seeks to Restructure and Secure Independent Capital for > Future > Growth* > > Today Atari Inc., Atari Interactive Inc., Humongous, Inc. and California > US Holdings, Inc. (collectively, the "Companies") filed petitions for > relief under chapter 11 of the United States > Bankruptcy Code in the United States Bankruptcy Court for the Southern > District of New York. With this move, the U.S.-based Atari operations seek > to > separate from the structural financial encumbrances of their French parent > holding company, Atari S.A. (formerly Infogrames S.A.) and secure > independent > capital for future growth, primarily in the areas of digital and mobile > games. > > Within the next 90-120 days, the Companies expect to effectuate a sale of > all, > or substantially all, of their assets in a "sale free and clear" under > section > 363 of the Bankruptcy Code or to confirm plans of reorganization that > accomplish > substantially the same result. These assets include not only one of the > most > widely recognized brand logos, which is familiar to 90% of Americans, > according > to a recent survey, but also legendary game titles including Pong, > Asteroids, > Centipede, Missile Command, Battlezone and Tempest. Other recognized brands > include Test Drive, Backyard Sportsand Humongous. > > Under current management, Atari Inc. has shifted its business from > traditional > retail games to digital games and licensing with an increased focus on > developing mobile games based on some of Atari's most iconic and enduring > franchises. With these moves, the company has added new revenue models, > including digital download and advertising. As a result, Atari Inc. has > become a > growth engine for Atari S.A., which in turn has reported consecutive annual > profits in 2011 and 2012. > > The company has recently launched a slew of chart-topping titles for iOS > and > Android mobile platforms, including Atari Greatest Hits, Outlaw, Breakout > and > Asteroids Gunner. The company has previously announced upcoming mobile and > tablet games based upon the popular Rollercoaster Tycoon franchise and > Atari > Casino. > > The Chapter 11 process constitutes the most strategic option for Atari's > U.S. > operations, as they look to preserve their inherent value and unlock > revenue > potential unrealized while under the control of Atari S.A. During this > period, > the company expects to conduct its normal business operations. > > The U.S. companies are also seeking approval to obtain $5.25 million in > debtor-in-possession financing from one or more funds managed by Tenor > Capital > Management, a firm specializing in convertible arbitrage and special > situations. > Each unit has filed a number of traditional "first-day" pleadings, which > are > intended to minimize any disruption of their day-to-day operations. > > Filed under: Gaming <http://www.engadget.com/category/gaming/> > > *Comments<http://www.engadget.com/2013/01/21/atari-chapter-11-bankruptcy/#comments> > * > > *Via:* > Bloomberg<http://www.bloomberg.com/news/2013-01-21/atari-u-s-operations-file-for-chapter-11-bankruptcy.html> > > > Source: http://www.engadget.com/2013/01/21/atari-chapter-11-bankruptcy/ > > (via Mr. Reader <http://www.curioustimes.de/mrreader>) > -- You received this message because you are subscribed to the Google Groups "The Unique Geek" group. 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