Briosafreak
Lived Through the Heat Death
Well there are news from the Titus front, the owners of Interplay. According to the GamesIndustry.biz site, devoted to the business side of the game industry,
<blockquote>French publisher Titus Interactive has successfully renegotiated a significant part of its outstanding debts, convincing bondholders to accept extensions of the expiry dates of their bonds by well over a decade to 2020</blockquote>
Seems good news right? Well actually there are still many dark clouds ahead, judging by this
<blockquote>Financial constraints have delayed the release of a number of titles from the publisher, which in turn has led to a slump in revenues - figures for the first half of 2002/03 showed a 70 per cent decline in revenue. The company recorded a 72.2 million Euro loss in the first half as a result.
Already Titus has attempted to rescue this situation by stripping the assets of its subsidiaries - just about every key franchise owned by Interplay has now been sold. The road ahead looks difficult for Titus, with apparently insufficient cash to release titles or fund further development, and no obvious financing routes open to it. Being bought out by a larger industry player looks like the best hope for the group - but whether it has anything worth buying is another question.</blockquote>
No cash to fund further development? Where does that leaves Fallout3, er, i mean Van Buren?
Thanks to Xiw for the heads up.
<blockquote>French publisher Titus Interactive has successfully renegotiated a significant part of its outstanding debts, convincing bondholders to accept extensions of the expiry dates of their bonds by well over a decade to 2020</blockquote>
Seems good news right? Well actually there are still many dark clouds ahead, judging by this
<blockquote>Financial constraints have delayed the release of a number of titles from the publisher, which in turn has led to a slump in revenues - figures for the first half of 2002/03 showed a 70 per cent decline in revenue. The company recorded a 72.2 million Euro loss in the first half as a result.
Already Titus has attempted to rescue this situation by stripping the assets of its subsidiaries - just about every key franchise owned by Interplay has now been sold. The road ahead looks difficult for Titus, with apparently insufficient cash to release titles or fund further development, and no obvious financing routes open to it. Being bought out by a larger industry player looks like the best hope for the group - but whether it has anything worth buying is another question.</blockquote>
No cash to fund further development? Where does that leaves Fallout3, er, i mean Van Buren?
Thanks to Xiw for the heads up.
