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Atari’s Death Throes

On November 20th, 2007 in Uncategorized -

With their CEO having resigned and their future seriously in doubt, Atari is currently doing the financial equivalent of flopping around in agony. The ailing video game publisher just posted their second quarter finances and things are not looking good. A net loss of over seven million dollars coupled with an impending loss of the support of their parent company Infogrames has forced them to sell off many of their assets. Development studios Shiny and Reflections have been sold as well as the rights to the Driver games. They filed a statement with the SEC: “The uncertainty caused by these above conditions raises substantial doubt about our ability to continue as a going concern. Our consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”

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