3DO Files For Bankruptcy

Thanks to an anonymous reader for pointing to a Reuters report via Yahoo News announcing that game publisher and developer 3DO has filed for bankruptcy. As the article indicates, the former console hardware creator "..has struggled to gain a foothold in the competitive games business and has relied on Chief Executive Trip Hawkins for recent funding." Even a recent attempt to buck their reputation for bad quality games by funding higher-budget titles such as 'Four Horsemen Of The Apocalypse' seems to have ended in failure, since industry sources are indicating all except 20 employees have been laid off, effective today, as the company looks to sell its properties.

Comments

Re:A mismatch?

[zonker]

economics 101, never ever, ever pump your own money back into your dieing company. find the problem with the company and fix it. if you can't fix it yourself, you get someone who can.

throwing money at a problem doesn't always make it go away. look at aol time warner for an excellent example of that type of mess.