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Posts tagged Loan

SouthPeak settles in SEC violation dispute

Two Worlds publisher SouthPeak Interactive ended up in some hot water with the U.S. Securities and Exchange Commission last November, when the government agency announced it would bring a civil injunction against the publisher's chairman, Terry Phillips. The reason for the SEC suit was SouthPeak'...

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38 Studios' loan from Rhode Island detailed in new report

Thanks to documentation from the Rhode Island Economic Development Corporation, we now have a better idea of the terms involved in 38 Studios' controversial move from Massachusetts to R.I. Obtained by WPRI, the report kinda explains what's going on: 38 Studios will receive $51 million from the stat...

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Rhode Island treasurer seeks to block $75M loan to 38 Studios

Rhode Island gubernatorial candidate Frank Caprio, who is also the general treasurer, is working to block the state's $75 million loan to 38 Studios. The Boston Globe reports Caprio wants to stop the loan guarantee, which the studio would receive in exchange for moving from Massachusetts to Rhode I...

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Rhode Island politicians speak out against 38 Studios deal

Though 38 Studios hasn't yet released a video game, it's already bringing together a particular community of people: Rhode Island politicians. The state's Economic Development Corporation (EDC) recently lured the studio over from its current home in Massachusetts with the promise of a $75 million l...

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Ohio library now loaning video games

Eager bookworms visiting the Washington-Centerville Public Library in Centerville, Ohio, will face exposure to the new-fangled "video game" entertainment medium, as the library will now be loaning PS2, PS3, Wii and Xbox 360 games. According to the Dayton Daily News, the library will carry two catego...

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EA takes out $1 billion loan for Take-Two acquisition

Electronic Arts has received commitments for a $1 billion loan from various financial institutions toward its acquisition of Take-Two. The company has up until January 9, 2009 to tap the funds in its $2 billion hostile takeover and there's been no update on the deal since Take-Two's last rejection...

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