ATARI Ceases Game Development

Anach · Unread post by **Anach** » Wed Nov 14, 2007 6:01 pm

Amidst concerns about the company's lack of funds and ability to continue its business, Atari officials announced today that the publisher will "re-focus its operations on publishing and distribution in North America, completing its withdrawal from the production business."

According to the release, Atari's operations going forward "will involve title acquisition, sales and marketing, and physical distribution of products from [Infogrames] IESA, its 51% shareholder, and other selected partners."

Atari has agreed in principle to terminate its Production Services Agreement with IESA in the near future. The company is planning to transfer certain employees and contract other staff on a project basis for a limited period of time. Unfortunately for Atari's employees, this restructuring initiative will also reduce the company's current workforce "in order to re-align the Company's cost structure with its on-going business base."

Along with the withdrawal from production, Atari CEO David Pierce has also announced his resignation. Curtis G. Solsvig III, Chief Restructuring Officer, has been appointed interim CEO and will assume Pierce's responsibilities for now. Atari said that an executive search for a new CEO has already been started.

http://www.gamedaily.com/articles/news/ ... on-/18531/

gelfling · Unread post by **gelfling** » Thu Nov 15, 2007 4:26 am

/nostalgia It's sad to see Atari have been forced to cut back.

Iakimo · Unread post by **Iakimo** » Fri Nov 16, 2007 1:55 am

gelfling wrote:/nostalgia It's sad to see Atari have been forced to cut back.

For the umpteenth time.

Anach · Unread post by **Anach** » Fri Nov 16, 2007 10:21 am

Iakimo wrote:
gelfling wrote:/nostalgia It's sad to see Atari have been forced to cut back.

For the umpteenth time.

That was my first thought aswell.

gelfling · Unread post by **gelfling** » Fri Nov 16, 2007 5:37 pm

Aye

Hopefully it won't be long until they can make another comeback

Molten Prominence · Unread post by **Molten Prominence** » Sun Nov 18, 2007 5:00 am

When atari was "supposed" to be making a comeback when they came out w/ the Matrix-Enter the Matrix game for the PS2, I looked into the stock because it was really cheap. I got as far as their Balance Sheet and clicked that X button in the corner of the window.