Thu, May 23, 2013 | 09:00 BST
Atari auctioning entire stable of IP in July to curb bankruptcy loss
Atari is looking to sell off its IP to bidders separately after it failed to find a sole buyer for its entire catalogue. The troubled company is looking for a minimum of $22.2 million for all franchises combined.
The Wall Street Journal broke the story this morning, confirming that Atari will hold auctions over four days in July, in an attempt to curb its losses.
The decision comes despite Atari convening with some 180 potential buyers, only to receive 15 initial offers for its back catalogue. The company found none of the bids to be acceptable, and has now opted to break down the sale by individual IP, as a way of maximising returns on each sale.
IP revealed to be on the block so far include Rollercoaster Tycoon, with a minimum bid of $£3.5 million, Total Annihilation at a minimum bid of $250,000 and Test Drive at a minimum bid of $1.5 million.
We’ll have more updates on the auction and the asking price of other Atari IP as it happens.