38 Studios Sells Assets For $830,000, Rhode Island Still In The Hole
Posted on Friday, October 26 @ 18:56:16 Eastern by Alex_Osborn
The tragic demise of 38 Studios will almost certainly plague Rhode Island taxpayers for years to come. In an effort to chip away at that some of the debt, earlier this week an auction was held in the tiny New England state, bringing in $650,000. Last week a similar auction was held in Maryland to sell off the assets of Big Huge Games (former division of 38 Studios), bringing in $180,000.
If you do the math, you'll realize that the total made on sales isn't nearly enough to dig Rhode Island out of the hole of debt it is currently in. It's worth noting however, that the most valuable asset, namely the Kingdoms of Amalur IP, has not yet been sold. Apparently it will be done through a separate transaction that will take place some time in the coming months.
Right now, it is estimated that when the company filed for bankruptcy, it owed a whopping $150.7 million. So yeah, RI taxpayers are on the hook for quite a bit.
FOLLOW ME ON TWITTER. YOU KNOW YOU WANT TO.
comments powered by Disqus
Fourth making of video. (4:12)
Final Fantasy Type-0
We Have Arrived trailer. (1:00)
Archwing trailer. (1:18)
Hatsune Miku: Project Diva F 2nd
Hatsune Miku Project Diva F 2nd launch trailer. (1:40)
Commander Cherry's Puzzled Journey
Commander Cherry's Puzzled Journey XBOXOne teaser trailer. (1:30)