Just what is an infograme? Chaucer sometimes used the word 'grame' to describe grief or misery, a fitting description of Infogrames, the woeful parent company of Atari. Bruised and broken, but determined, the resourceful holding company has rebounded from Atari's collapse with the launch of a €150 million convertible bond issue, underwritten by chief shareholder BlueBay Asset Management.
After using roughly €40 million of the bond proceeds to repay loans from Banc of America, Infogrames is expected to be left with more than €100 million (after insurance fees) to relaunch publishing activities and sustain operating costs. And when that money runs out, Infogrames it still entitled to a €54.7 million credit line with Banc of America until Feb. 28, 2009. But this isn't simply free money; the convertible bond will further reduce the dismal value of shareholders' equity once the bonds are converted into new shares. The alternative? Carry dear Infogrames out back and put one between its eyes.
Reader Comments (10)
Posted: Jan 8th 2008 5:37PM (Unverified) said
If they would publish a Nex-Gen sequel to Hog of War, they would be right back in the game!
Seriously...I love that damn game.
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Seriously...I love that damn game.
Posted: Jan 3rd 2008 10:54AM (Unverified) said
wow......kind of sad i guess. but it seems like their trying to stay alive. if they could due a better Driver and really try to push it,who knows. but i hope they don't go under.
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Posted: Jan 3rd 2008 11:02AM dustindeckard said
Driver is one of those games that could genuinely benefit from a Batman Begins/Tomb Raider Legend.
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Posted: Jan 3rd 2008 12:12PM ChiTownRuler23 said
if they actually made a "Driver" game on a next gen platform that doesnt suck i dont think they would be in this mess
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Posted: Jan 3rd 2008 1:12PM (Unverified) said
ya, i played parellel lines on the original xbox and it was allright but it just felt like it was missing something,however weird that may seem
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