Atari Inc: money out, money in
Things may be starting to perk up for Atari Inc. after its recent financial woes. They've managed to settle their differences with FUNimation (for a substantial settlement) and increased their credit limit to tide them over for the holidays.
Their settlement with FUNimation amounted to US 3.5 million. With this, Atari can now continue to own the rights to distribute their Dragon Ball Z franchise. Atari originally paid US 10 million for the distribution licenses.
Atari has also increased their credit limit from US 10 million to US 14 million to tide them over for the holidays. As part of the deal to increase their credit, they've reworked their distribution agreements with major shareholder Infogrames.
Still, these recent developments may yet end up proving Wedbush Morgan analyst Michael Pachter's prediction that Atari will be demoted to distributor correct. We'll have to wait and see.
Via QJ
Labels: News
posted by Jake Sankey @ 7:53 PM
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2 Comments:
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