Topic: Atari USA files for Chapter 11 Bankruptcy -> Update: Auction begins in July

[MysterD]

NEW -> 05-23-2013:
Shacknews -> Atari will begin auctioning assets off in July.

OLD:
G4TV -> Atari USA files for chapter 11 Bankruptcy.

[idolminds]

The weird part I was under the impression that Atari was already just a name someone owned.

[MysterD]

The weird part I was under the impression that Atari was already just a name someone owned.

Atari SA France (formerly known as Infogrames) is the parent company to Atari USA.

[Quemaqua]

At first I thought this said Atlus, and I was like NOOO. But yeah... I guess this isn't a huge shock. Though I was also under the impression the umbrella Atari name was owned by someone else. They must have sold it again since then.

[MysterD]

At first I thought this said Atlus, and I was like NOOO. But yeah... I guess this isn't a huge shock. Though I was also under the impression the umbrella Atari name was owned by someone else. They must have sold it again since then.

Yeah, Infogrames (France) [who is now renamed to Atari SA] owned Atari USA last.

[scottws]

People are acting like this is a big deal but it isn't. This Atari has virtually nothing to do with the original company and Atari has died like 4 times now.

[MysterD]

Atari will start auctioning assets off in July:
http://www.shacknews.com/article/79339/atari-to-auction-off-assets-in-july

Atari to auction off game assets in July
by Steve Watts, May 23, 2013 10:00am PDT
Related Topics – Atari

Atari reportedly plans to put its intellectual properties up at auction in July, having failed to find a buyer after declaring bankruptcy. The auctions will include the Atari name itself, and franchises like RollerCoaster Tycoon and Test Drive.

The Wall Street Journal reports that the pool of auctions is set to start at $22.2 million. The Atari brand itself will start at $15 million, Roller Coaster Tycoon will start at $3.5 million, and Test Drive will start at $1.1 million. Other auctions include Total Annihilation franchise for a $250,000 floor price, and a bundle of properties including Humongous, Fatty Bear's Birthday Surprise, and Math Gran Prix, for a $500,000 floor. The auctions will take place over four days, beginning July 16.

The company filed for bankruptcy in January, and has been seeking a buyer for its logo and IPs. The report states that it reached out to 180 potential purchasers, and only 15 submitted preliminary bids. Atari did not deem those bids acceptable, so it is instead splitting its IPs and selling them off piecemeal. It still needs approval for the process, though, and is hoping to have a judge approve the transactions on July 24.

"The Debtors believe that this type of a targeted bidding process affords the Debtors the best opportunity to market the Assets and maximize the value thereof for the benefit of all stakeholders," the company wrote in papers.