Long-running companies declaring bankruptcy is common place these days. So many media and entertainment companies have been unable to keep with the times and end up being pushed from the marketplace, sometimes after decades in business. The latest, and possibly saddest, of these companies to fall is Atari Inc., who filed for Chapter 11 this morning in an aim to detach themselves from their parent company, Atari SA.
Atari Inc. also plans on selling all of its assets, including famous games such as Pong and Asteroids, and even its logo. The sad fact is that none of these franchises, or even the logo itself, carry much weight in the gaming industry any more, but for the purposes of merchandising, they must be worth a fair bit.
Despite restructuring and numerous changes of ownership, Atari is still a company that people have strong memories tied to. It’s sad to think that the company who basically invented the home console, which is now a multi-billion dollar industry, is unable to keep afloat, but this is the sad fact we’re all going to have to accept. Besides, there’s a chance that Atari Inc. can successfully break away from their parent company, acquire a little independence, and start on the path back to greatness.
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Via: Joystiq
