Atari Defaults on HSBC Group Loan

[fitbabits]

Gamesindustry.biz (http://www.gamesindustry.biz) has more details (http://www.gamesindustry.biz/content_page.php?aid=14288).

Videogame publisher and developer Atari is facing renewed financial pressures, having failed to meet repayments on a USD 50 million loan from the HSBC Group.

The troubled firm was effectively in default of the loan as of December 31st, 2005, but an SEC filing from the company states that there is nothing more than "a nominal amount" outstanding from letters of credit.

The firm had been forced to ask for financial assistance from parent company Infogrames in August last year, in addition to approaching HSBC for "waivers of certain financial covenants" following a disastrous first quarter.
Yowza! A lot will be riding on the new Driver sequel and also Marc Ecko's Getting Up - mess those up and it could be curtains for Atari.

[bapenguin]

So did Infogrames become Atari? I know they bought the name...did they change their name then?

[fitbabits]

So did Infogrames become Atari? I know they bought the name...did they change their name then?
A question I've always wanted answered myself...

2001
On January 29, 2001 Infogrames Entertainment announced completion of its acquisition of Hasbro Interactive from Hasbro, renaming the subsidiary "Infogrames Interactive." The purchase included the Atari titles and intellectual properties (known at Hasbro as "Atari Interactive").

Between 2001 and 2003 Infogrames placed the Atari brand on some of its "premiere" gaming titles.

2003
Beginning May 7, 2003 Infogrames Entertainment adopts the Atari brand and registered trademark for all operations, effectively changing the name of the entire company to Atari.

Additionally, the Company's wholly-owned subsidiary, Infogrames Interactive, Inc., which develops many of the game derived from the Hasbro line of board games, changes its name to Atari Interactive, Inc.

Infogrames Entertainment
========================
Founded in 1983 by Bruno Bonnell and Christophe Sapet, Infogrames
Entertainment SA today has more than 1,800 employees worldwide (approximately 60% in Europe and 40% in the U.S.). A publicly traded company, Infogrames Entertainment SA (Euronext: 5257) is one of the top five publishers of interactive entertainment software in the world and is widely regarded for developing and distributing quality games for the mass entertainment audience.

Infogrames SA comprises two main subsidiaries: 1) the U.S. based, publicly traded Atari, Inc. (Nasdaq: ATAR); and 2) Atari Europe, which represents the Company's original operations. Atari, Inc. includes the former GT Interactive; Atari, Inc. also manages Atari Interactive, Inc. (the former Hasbro Interactive) on behalf of its parent company.
More info... (http://www.faqs.org/faqs/atari-8-bit/faq/index.html)

[bapenguin]

thanks fitba

[Reanimated]

If they're betting the farm on that Marc Ecko game, well they are fucked beyond belief.

[MaiXu]

Well, it's not like Atari is ever going to go out of business ...

[Malovech]

Good riddance to one of the worst gaming companies in history.

[Morratut]

Yowza! A lot will be riding on the new Driver sequel and also Marc Ecko's Getting Up - mess those up and it could be curtains for Atari.

Atari in the 70's and early 80's used to be great. However this isn't the Atari of old. I don't think Driver and Get Up will get them out of the shit either.

[Demo_Boy]

This is not Atari.
This is the company formerly known as Infogrames.

[fitbabits]

This is not Atari.
This is the company formerly known as Infogrames.
Actually, look at reply #3. It is Atari - Infogrames is the parent company.

[Wombat]

Atari Published Neverwinter Nights, didn't they? Does this mean they aren't the publisher for NN2?

[Derella]

Atari is also the publisher for NWN2. They have the rights to all D&D related games, I think.

[zorper]

... - mess those up and it could be curtains for Atari.

It was curtains for Atari when the Activision guys walked out in 1980.

Edit: Holy crap I'm old.

[MosBen]

And I had though Atari was formerly Interplay. What became of them? I ask this almost exclusively because I really want a new Carmageddon game and would like to know from whom to expect it.

[amusedtoe]

So did Infogrames become Atari? I know they bought the name...did they change their name then?

Aye, like 3 or 4 years ago. Basically they purchased the name and a good number of the properties and decided to use that as an opportunity to reinvent themselves.

Personally until a year or two ago I'd have said Infogrames/Atari was the best publisher out there since they were putting out some seriously quaity stuff.

[Chill]

Didn't they also buyout Creative Assembly? I'd say even if the Driver sequel and Marc Ecko's Getting Up fail, then they can still fall back on NWN and total war series to pull them through.

[fitbabits]

Didn't they also buyout Creative Assembly? I'd say even if the Driver sequel and Marc Ecko's Getting Up fail, then they can still fall back on NWN and total war series to pull them through.
You're thinking of Sega! (http://www.gamesindustry.biz/content_page.php?aid=7293)

[dr_wily]

i find it funny that despite selling 6 million of one game, they are still in financial trouble... they mustve just paid a shitton for development and licensing. Most companies fail to sell that many copies period in one year.

[fitbabits]

i find it funny that despite selling 6 million of one game, they are still in financial trouble... they mustve just paid a shitton for development and licensing. Most companies fail to sell that many copies period in one year.
They sold six million copies of a shit game - that's six million pissed off people! And that's why The Path of Neo is not selling as strongly as they probably hoped.

[Jukey]

Getting up has been pushed to November, according to Marc Ecko's blog (http://marcecko.blogspot.com/).

[Mephistopheles]

And I had though Atari was formerly Interplay. What became of them? I ask this almost exclusively because I really want a new Carmageddon game and would like to know from whom to expect it.
Interplay isn't Atari.

I don't recall hearing anything but bad news regarding Interplay anytime in the last year or two. They had to move to smaller offices, I think they have signed over most or all of their distribution and development responsibilities to other companies including Vivendi, and their financial statements seem to indicate that they aren't able to pay their remaining dozen odd employees and owe back rent. A lot of their income is coming from Vivendi for the distribution rights if I remember right.

So as for a future Carmageddon if one is even on the books maybe Vivendi will be publishing? I don't know. Maybe get Dr Boll to make a movie out of it to get some interest back into it. *gestures to ward off evil spirits*