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Arc System Works to give a double dose of BlazBlue this fall
BlazBlue fans, get ready for a double dose of fighting goodness as Arc System Works has two projects planed for the series. ... [read more]
Major Nelson answers more questions about the Xbox One
It’s a busy time for Larry “Major Nelson” Hryb. Of course, it would be less busy if Microsoft was clearer on certain aspects of the Xbox One. In a Yahoo chat today, Hryb fielded some questions from gamers. ... [read more]
The Best of Playstation Network Vol. 1 coming next month
Vikings, dogs, shapes and sounds and a fat princess headline the Best of Playstation Network Vol. 1. ... [read more]

Latest Articles

Companies staying silent is all part of the game
Recently some journalists have been pointing out that companies have been staying silent about recent controversies. That's what they're supposed to do, and it's a good journalist that can get around that silence.... [read more]
Firefall Preview
Designed as a squad-based MMO, Firefall has a unique PvE side and solid PvP. It’s a bold move to include them in a MMOFPS, but the development team, Red 5, promises it will be an experience unlike anything else.... [read more]
Peter Moore’s defense of EA is an example of why EA sucks
EA’s CEO Peter Moore made a post today on the EA.com called “We Can Do Better” where he defends his company. Although defending your company is always noble, how he defends his company is another example of how some people at EA just don’t get it.... [read more]

Latest Reviews

Soul Sacrifice Review
Released at the tail end of last month, Soul Sacrifice is a title that I’ve been feverishly working on. Having clocked more hours into it than I care to admit, I can say that it is a certainly interesting title. At the very least, Soul Sacrifice is a game that deserves som... [read more]
Zeno Clash II Review
Set four years after the first game, Zeno Clash II is taking everything that has made the first Zeno Clash great and expanding upon it. The game is now open-world, the controls have been improved, and a handful of additional features have been added. On paper, it looks like ... [read more]
Black Rock Shooter: The Game Review
After years of delays, Black Rock Shooter: The Game final gets released here in the U.S. Is it too late for the game or will the game make new fans of the franchise?... [read more]

Latest Videos

8-Bit Eric: Injustice: Gods Among Us Review
8-Bit Eric dons his cape to review Injustice: Gods Among Us for the Wii U.... [read more]
Adventures on Channel 3: The Flintstones: The Surprise at Dinosaur Peak
Video game collectors are familiar with The Flintstones: The Surprise at Dinosaur Peak. It's one of the rarer games for the NES because it was only available at Blockbuster Video. Gnarblast makes his way through the game without dying to get a special ending... [read more]
8-Bit Eric: Kung Fu Rabbit Review
Originally developed by CTools Studios for mobile phone, Kung Fu Rabbit makes the jump to the Wii U thanks to Neko Entertainment. 8-Bit Eric takes a look at the action platformer to see if it's worth the space on your Wii U's memory. ... [read more]
Rhode Island now owns 38 Studios
Posted on August 09, 2012 by MikeV

The saga of Curt Schilling, 38 Studios and the state of Rhode Island continues. Yesterday the Bank of New York Mellon Trust Co and Rhode Island Economic Development Corp. won a court decision that allows Rhode Island possession of all assets of 38 Studios. For those who haven't been keeping up with the dealings between Schilling's studio and Rhode Island, here's a summary:

Last year, 38 Studios borrowed $75 million from the state of Rhode Island to relocate from Massachusetts to Rhode Island. The state granted the loan, and to repay what they had borrowed, the studio pledged all of its assets, patents, software and other property to Rhode Island as collateral. 38 Studios only released one game, the EA published Kingdoms of Amalur and was working on a project called Copernicus. Unfortunately the game did not meet sales expectations and the studio filed for bankruptcy.

US Bankruptcy Judge Mary Walrath granted the request to both the state and Mellon Trust in a hearing in Wilmington, Delaware. While its not strange to hear developer pledging its IP to a backer like a publisher, as its a common practice in the video game industry. What is strange is that a developer pledged its assets to a state government. Now Rhode Island is looking a buyer to make up for the $75 million risk they took in trying to court the video game industry to Rhode Island.

Source: Bloomberg

MikeV - Staff Writer mikev (@) original-gamer.com | all author's articles

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