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| Thread: Read This!!! important news on 3DO | |
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gargantuan
Hired Hero
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posted June 12, 2003 08:53 PM |
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Read This!!! important news on 3DO
"The 3DO Company announced today that they have filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court of Northern California. The filing, although not immediately spelling the end of the storied software (and occasionally hardware) publisher, is an admission of the fact that the company is unable to continue as a going concern. Although the company will continue to operate, unofficial reports indicate that much of the outfit's development staff has already been laid off.
"This filing gives us more time to complete transactions in the interest of our stakeholders," said 3DO chairman and founder Trip Hawkins in a release. "While we hope that this news will generate additional new opportunities, at this point we are focused on pursuing either the sale of the entire company or the sale of its assets." Hawkins has had to loan money to his own company twice in the last nine months to keep it afloat.
Originally founded in 1993, The 3DO Company was the force behind the 3DO Interactive Multiplayer, one of the first CD-based standalone game systems when it was released worldwide in 1994. Although it got off to a hot start, the system's high price, along with stiff competition from the PlayStation and Sega Saturn, spelled its early doom three years later. After dropping hardware, 3DO went on to become a prolific third-party developer, known for producing games both good (High Heat MLB, Heroes of Might & Magic) and poor (Portal Runner, most of the Army Men series).
3DO's financial troubles began in early 2001, when the company's long-running Army Men franchise began to falter and its developers were caught unaware by the next generation of game consoles. The game lineup they showed at this month's E3 show, including Street Racing Syndicate, Jacked and The Four Horsemen of the Apocalypse, was part of an effort to use longer production times and create higher-quality games. Hopefully these projects will still find release somewhere."
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Lord_Woock
Honorable
Undefeatable Hero
Daddy Cool with a $90 smile
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posted June 12, 2003 08:55 PM |
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Ok... How many threads about 3DO's bankrupcy do we have now? *rolls his eyes*
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Yolk and God bless.
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My buddy's doing a webcomic and would certainly appreciate it if you checked it out!
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vesuvius
Hero of Order
Honor Above all Else
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posted June 13, 2003 12:01 AM |
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Aculias
Responsible
Undefeatable Hero
Pretty Boy Angel Sacraficer
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posted June 13, 2003 04:09 AM |
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I was reading the Andrew Johnson Impeachment & oh wait thats really old news 
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Dreaming of a Better World
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RMS
Responsible
Legendary Hero
-ing yummy foods
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posted June 13, 2003 04:19 AM |
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Naw, that was just yesterday's news...or something like that.
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This space for rent.
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tewilligar
Famous Hero
Just another willigar
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posted June 13, 2003 04:44 AM |
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hey did you guys know pearl harbor was hit? oh sorry i'm about 60 years late
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ZZZZzzzzZZZZzzzz
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splexx
Known Hero
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posted June 13, 2003 05:19 AM |
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Only in America...
[quote
"This filing gives us more time to complete transactions in the interest of our stakeholders," said 3DO chairman and founder Trip Hawkins in a release. "While we hope that this news will generate additional new opportunities, at this point we are focused on pursuing either the sale of the entire company or the sale of its assets." Hawkins has had to loan money to his own company twice in the last nine months to keep it afloat.
Gotta luv it when the CEO pilfers the company coffers...
Then has the balls to lend the company it's profits back..
Then to file chapter 11...lol
All the while drawing an..ahem..."comfortable salary" i suppose...
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Azif..
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midnight
Promising
Famous Hero
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posted June 13, 2003 06:18 AM |
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I heard there was a publisher, that was buying NWC
It's called 3do, oh hang on, that is old news 
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Marelt_Ekiran
Promising
Famous Hero
Watcher of All
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posted June 13, 2003 06:43 AM |
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Can I remind everyone that I checked when I posted my version. I was the first one to notify HC in the TOH forum. Posted it half an hour after the news appeared on Celestial Heavens.
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Perception is everything.
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tewilligar
Famous Hero
Just another willigar
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posted June 13, 2003 07:19 AM |
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want a zero biscuit?
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ZZZZzzzzZZZZzzzz
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Aculias
Responsible
Undefeatable Hero
Pretty Boy Angel Sacraficer
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posted June 13, 2003 08:41 AM |
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Were partying in this room dude go Marelt you were the first, oh wait thats old news also
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Dreaming of a Better World
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Hexa
Responsible
Legendary Hero
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posted June 13, 2003 04:15 PM |
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hehe ok fun ends here!@ ;p
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If you want to realize your dreams >>> you have to wake up!@
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