As of today Atari has been delisted by the Nasdaq stock exchange, but the company states it will appeal. The company was first threatened with delisting last July after it failed to submitits year-end financials, then again in December because its market value was too low, and one final time in March for not fixing its issues from the previous year. The publisher will have its stock quoted on Pink Sheets and OTC Bulletin Board until the decision is reversed.

The delisting of Atari won't stop the $11 million buyout by Infogrames or the master plan of CEO David Gardner, Directeur Général Délégué Phil Harrsion and rest of the new Atari/Infogrames crew. Bargain hunters looking for a good deal might want to see if Gardner would be willing to trade some Atari stock for a casserole or some landscaping work.

Infogrames has added another new executive, with Fabrice Hamaide having just been appointed Chief Financial Officer. GameDaily has Hamaide's full resume, but that's not as important as pointing out that this is just another change in the new Infogrames/Atari that CEO David Gardner and Directeur Général Délégué Phil Harrison are building.

The installation of a new CFO comes only days after Infogrames announced it would be buying Atari outright for $11 million dollars. We now wait to see if Infogrames changes its name to Atari and whatever else Gardner et al. have in store for Atari v2.0.

Infogrames announced that it will buy the remaining stock of Atari in an $11 million merger and will immediately lend $20 million to the company before the deal closes. Although it's been hard to distinguish the two companies, Infogrames only had a 51.4% controlling interest in Atari, which will now become a wholly owned subsidiary of Infogrames by the third (calendar) quarter.

Former Sony executive Phil Harrison, who is now Directeur Général Délégué at Infogrames, said a little while ago that we should think of Atari/Infogrames as a start-up ... and we're slowly getting there. With this merger opening up the full-on name change, along with the slew of new executives the company is collecting, the Atari/Infogrames we know now doesn't seem to be the Atari we'll know in a year. Whether any of this fixes the grim financial situation of the publisher, however? That's a story for another time.

And playing the part of the jilted lover in today's episode of As The Game Industry Turns is Infogrames, as the company confirmed that while it recently offered to purchase Eidos-owner SCi, the Atari-parent saw its bid turned aside "at this stage."

The timing of the news is particularly interesting, given that SCi last week said that it had rejected an unspecified acquisition offer, though it remains unknown if the publisher was talking about Infogrames or some other mystery suitor. Not long after, SCi accepted a £60 million investment from Warner Bros. as part of what it called a strategic relationship.

We know how you feel Infogrames (or is it Atari?). You put yourself out there, and you're vulnerable. But thankfully, it's not as if you don't have options.

Infogrames CEO, David Gardner, tells GI.biz that the company may drop its name (which rocks our world) completely for the Atari marquee brand. He wants the company thought of as a "start-up" and the name change to represent the "final mark" of transformation. Directeur Général Délégué Phil Harrison chimes in that the company, as it stands now with a new management team less than a year old, is "absolutely a start-up" -- it's just a start-up with 25 years of history (and some serious financial drama).

Harrison and Gardner had apparently been talking about doing their own company for a long time. Harrison explains that the two had made significant plans and then the Atari opportunity came along. It was a company that had global infrastructure, offices, branding and was exactly the type of company the two were looking for. It'll probably become much easier to think of Atari as a "new" company once it announces some new IPs and gets the "old" company's games out the door, like the oft-delayed Alone in the Dark.

Infogrames CEO, David Gardner, tells Reuters he believes Alone in the Dark will sell two to three million copies this fiscal year. That means that, between its June 24 release and next March, the title needs to perform better than a game like BioShock. Given the fact that the title is being released on Wii, PS2, Xbox 360 and PC (PS3 is "sometime in 2008"), it just may hit that projection when combining all the systems ... maybe.

Gardner's currently focused on getting Infogrames / Atari to stop hemorrhaging money, and has Directeur Général Délégué Phil Harrison and friends looking to "get a business plan together that gets [Atari] to a break-even level." Unsurprisingly, Gardner couldn't give specifics on when he expects that to happen.

[Via GameDaily]

With all its fancy new executives, everything appears to be sunshine at the moment for Infogrames/Atari; but for the third time in less than a year Atari has been threatened with delisting by the Nasdaq stock exchange. The company admits it received a letter from Nasdaq's Listing Qualifications Department stating that it had not gained compliance with the last warning requiring the company obtain $15 million in market capitalization for 10 consecutive days before March 20.

Atari has asked Nasdaq for a hearing which will put a stay on the stock's execution. Meanwhile, Infogrames is looking to buy the "outstanding common stock" of the company, which may put this whole issue to rest. If Infogrames does not succeed, Atari admits there's no assurance it won't be delisted.

In a rather terse press release, Atari announced it has a received an offer from Infogrames to buy the "outstanding common stock" of the fledgling company for $1.68 per share. Atari's stock closed at $1.66 yesterday but jumped to $1.77 this morning.

The move by Infogrames, already the majority shareholder in Atari, is hardly surprising. In a video interview this week, new Directeur Général Délégué Phil Harrison said, "The Atari opportunity, is the best opportunity that exists in the industry today to redefine, refocus and re-energize an incredible brand." Atari stated in the press release that it intends to evaluate the proposition, which in our minds entails the Board of Directors all working together to make a "Thank You Infogrames" card with macaroni and sprinkles.

Gametrailers has a video of Phil Harrison's Infogrames/Atari coming out party from earlier this week, depicting the former Sony exec really entrenching himself into the current fixer-upper situation. He quite confidently says to the press in attendance, "The Atari opportunity, is the best opportunity that exists in the industry today to redefine, refocus and re-energize an incredible brand."

This week has seen numerous moments where Infogrames' new CEO David Gardner and Harrison, as the new Directeur Général Délégué, have said all the right things. Giving the appearance that Atari is a salvageable brand is great, but showing some profit is always a good first step.

Okay, maybe not literally (although the imagery does make us giggle), but a "magnet for talent" is certainly the new image Infogrames hopes to project. Now that Phil Harrison has taken his seat as president of Infogrames, CEO David Gardner has been singing the praises of the company's new business model, which is centered around the online market, as well as recognizable talent, and attracting new faces.

According to Gardner, the future of Atari and Infogrames rests in the field of online gaming, a risky new venture for the company that Gardner is optimistic Harrison will be able to assist in. In addition to the new online focus, Gardner hopes that the company can continue to attract talent, and aims for a healthy mix of both industry veterans, and fresh young faces hoping to innovate. They better hope that magnet's got a lot of pull left in it, as Atari's messy history is naturally repellent.

The rumors of a "Phil eye for the Atari guy" are true. Former Sony Computer Entertainment Worldwide Studios president Phil Harrison has joined Atari's parent company Infogrames with the title of Directeur Général Délégué (President). Harrison will report directly to Infogrames CEO David Gardner, who plans to announce tomorrow how he's going to turn the beleaguered company around -- and we're guessing Harrison will have a huge role in doing that.

Harrison's fancy French title (which we're sure to use every chance we can) isn't going to protect him from the hard road ahead. The plan is apparently for Harrison and Gardner to turn Atari into "a leading online game company." Despite Gardner's belief that Infogrames has a "strong financial foundation," its going to take a lot of "show us" over the next few years before Atari gets off the D-list. But damn, is getting Harrison on the team a good start.

[Via PS3 Fanboy]

Former EA executive David Gardner has been appointed the CEO of Atari parent company Infogrames, effective ... now. This means former CEO Patrick Leleu, who just recently outlined plans regarding Infogrames/Atari's recovery, has been given his golden watch parachute and shown the door. Gardner is now captain of a ship sailing through a financial minefield of debt and drama.

Gardner was at EA for nearly 25 years and was one of its first employees in 1983. Early on he was in sales and marketing and in '92 became Managing Director of Europe, where he had a strong role in European acquisitions for EA and integrating those companies into the beast. Before leaving EA last August he held the title of COO of Worldwide Studios and helped establish EA in Asia. Best of luck to Gardner, who's got a lot of work ahead of him.

Infogrames CEO Patrick Leleu plans to turn his beleaguered company (which owns even more beleaguered Atari) around by focusing on mass-market friendly titles, an Atari games portal and getting some now-gen titles out the door. Leleu spoke with French newspaper Les Echos, with the interview being translated by Next-Gen.

Leleu said there are three major things the company plans to do to turn its financial fortunes around. The first is a plan to spend big with the company's new loan on established properties like Alone in the Dark (now expected in May, uh huh), Test Drive and Dungeons and Dragons. Next, the company will increase investment in "mass-market titles" for the new demographics drawn to the DS and Wii -- whether that means more shovelware or actual new stuff is anyone's guess. Finally, Infogrames wants to boost Atari's internet presence by making Atari.com a place to play online or download games; this made all the more clear by GameTap's loss of Atari titles. It's time to gussy up the old cow up and make her look good for buying.

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.

Atari continues its death throes by announcing the cessation of work on current projects, the laying off of more staff and the sales of the remainder of its IPs. This is like the business equivalent of hitting the reset button instead of just quitting. Following the departure of the Atari CEO last week, the company also posted an $8 million Q2 loss -- this follows the recent and strategically delayed announcement of a $12 million Q1 loss.

Atari's parent company Infogrames has already made clear the intention of leaving its child on the side of the road, hoping it'll figure out the way home by its lonesome. What's even worse is that Atari's essentially admitting the fixes it has planned may not be able to turn the ship around, stating in a report, "We cannot guarantee the completion of these actions or that such actions will generate sufficient resources to fully address the uncertainties of our financial position." Translation: We ain't gots a clue what be happenin'. There's no word really on what games Atari is going to kill to save money, but at this point you'd think that Alone in the Dark would be the last development hurrah -- but we'll see.