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OnLive went bankrupt to wipe out employee equity - rumour

TechCrunch has a possible explanation for why OnLive declared ABC bankruptcy to reform under its new owner rather than a straight-forward acquisition. According to the site's sources, by effectively laying-off its entire workforce - although many will be rehired - the company has nixed any equity entitlements its staffers held. This would make OnLive a much more attractive purchase thanks to a substantial reduction in price.

Thanks, Kotaku.

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Brenna Hillier avatar

Brenna Hillier

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Based in Australia and having come from a lengthy career in the Aussie games media, Brenna worked as VG247's remote Deputy Editor for several years, covering news and events from the other side of the planet to the rest of the team. After leaving VG247, Brenna retired from games media and crossed over to development, working as a writer on several video games.

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