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http://news.spong.com/x?art=7538
We can reveal at this juncture that Acclaim will be filing for bankruptcy on Monday 30th August 2004 under Chapter 11. This news derives from the most credible of sources and will be officially announced in New York on the above stated morning.
And that, as they say, is that. We’ll promise no more updates: as this would appear to be the conclusion of Acclaim’s sorry decadency from publishing giant to ruined failure.
We can reveal at this juncture that Acclaim will be filing for bankruptcy on Monday 30th August 2004 under Chapter 11. This news derives from the most credible of sources and will be officially announced in New York on the above stated morning.
And that, as they say, is that. We’ll promise no more updates: as this would appear to be the conclusion of Acclaim’s sorry decadency from publishing giant to ruined failure.
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Acclaim has filed for bankruptcy today. However, the outlook seems even bleaker now than it did last Friday. Rather than opting for the Chapter 11 clause – which could have left some room for manoeuvre (albeit quite small), it has filed for Chapter 7. This means it will have to sell off all its assets and then shut down the business. It’s all fairly final.
With over $100 million in outstanding debts, and with less than $50 million in assets: and no more backing from financial institutions, this spells the end for Acclaim. There have, however, been no announcements as to the future of Acclaim’s finished games that are resting in the pipeline i.e. Juiced and Red Star. These would obviously be considered as assets and will likely be sold off to an alternative publisher.
It’s a sad day when such a long-standing publisher is forced into closure, providing yet more proof that this is an intensely competitive industry. We can only hope that others learn from these mistakes, and that Acclaim’s employees find suitable roles elsewhere.
With over $100 million in outstanding debts, and with less than $50 million in assets: and no more backing from financial institutions, this spells the end for Acclaim. There have, however, been no announcements as to the future of Acclaim’s finished games that are resting in the pipeline i.e. Juiced and Red Star. These would obviously be considered as assets and will likely be sold off to an alternative publisher.
It’s a sad day when such a long-standing publisher is forced into closure, providing yet more proof that this is an intensely competitive industry. We can only hope that others learn from these mistakes, and that Acclaim’s employees find suitable roles elsewhere.
If EA buy them out they'll only let them churn out Burnout games until everyone on the face of the planet is bored to tears with them. They'll then release a new series of racing games that are like burnout, but have a different name.
Whatever creative merits Acclaim might have had, would be swallowed in the vast, vacuous wasteland of the corporate EA, who don't make games, the make products, solely for money. Pah.
Whatever creative merits Acclaim might have had, would be swallowed in the vast, vacuous wasteland of the corporate EA, who don't make games, the make products, solely for money. Pah.
It'd be cool if EA buy them out.
Probably wont happen, but EA can probably afford to keep them afloat, and it is always a shame to see a developer go. Even a developer that ain't high with the amount of AAA titles.
Probably wont happen, but EA can probably afford to keep them afloat, and it is always a shame to see a developer go. Even a developer that ain't high with the amount of AAA titles.
Miserableman wrote:
> adrian wrote:
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> I believe that chap will be redundant now, along with the rest of his
> staff
Not if the company gets swallowed up by another games company, then he will probably keep his job.
> adrian wrote:
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> I believe that chap will be redundant now, along with the rest of his
> staff
Not if the company gets swallowed up by another games company, then he will probably keep his job.
adrian wrote:
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
I believe that chap will be redundant now, along with the rest of his staff
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
I believe that chap will be redundant now, along with the rest of his staff
Icarus mk2 wrote:
> adrian wrote:
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> And did you take that advice?
Will do when I have some time to do some stuff. Basically I havent done any C++, but lots of Java at Uni. So he was saying the best way is to learn C++ as well as get experience in DirectX and OpenGL programming with things like 3D and collisions. And the best thing to do is to make a demo of what you can do etc.
Basic stuff really that most people would do, but it was nice to of him to send me an email after I had sent off my CV.
> adrian wrote:
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> And did you take that advice?
Will do when I have some time to do some stuff. Basically I havent done any C++, but lots of Java at Uni. So he was saying the best way is to learn C++ as well as get experience in DirectX and OpenGL programming with things like 3D and collisions. And the best thing to do is to make a demo of what you can do etc.
Basic stuff really that most people would do, but it was nice to of him to send me an email after I had sent off my CV.
tigamilla wrote:
> adrian wrote:
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> Cheltenham?
Yep
> adrian wrote:
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
>
> Cheltenham?
Yep
adrian wrote:
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
Cheltenham?
>
> Yeah, use to go pass them a few times a week on the way home from
> Uni. The Technical Director even emailed me and gave me some advice
> on getting into the games industry.
Cheltenham?
Acclaim was on my list of applications this winter, because of its proximity. Oh well, loads more options.
tigamilla wrote:
> Thats a shame, another one bites the dust and makes way for even more
> diabolical titles from EA...
>
> Damn
Ugh, "Coming Soon; Burnout 7, it's like Burnout 6, but with better graphiX!!11!!1!!1"
Shame about Acclaim (whoohoo, that rymes) but I can't remember the last decent game they did, or even the last Acclaim game (and again) that I played.
> Thats a shame, another one bites the dust and makes way for even more
> diabolical titles from EA...
>
> Damn
Ugh, "Coming Soon; Burnout 7, it's like Burnout 6, but with better graphiX!!11!!1!!1"
Shame about Acclaim (whoohoo, that rymes) but I can't remember the last decent game they did, or even the last Acclaim game (and again) that I played.
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