chaoticworlddesigns.com

The first hint of the crash

Pac-ManWarner Communications, the parent company of video game manufacturer Atari, issues an earnings statement in which it anticipates losing money in the fourth quarter of 1982. The losses are attributed to product returns and other shortfalls experienced by Atari, despite the acquisition of licenses for home video games based on Pac-Man and E.T. The reaction on Wall Street is immediate, and a massive sell-off of video game related stock leaves the entire industry reeling within a week. The industry is seeing the first hint of the bust that will end the boom years.

More on Atari in Phosphor Dot Fossils

Bookmark the permalink.

Comments are closed

  • theLogBook.com's timeline of over 5,000 events changes every day, juxtaposing science, science fiction, and pop culture for historical context (and for fun). Virtually every date on the timeline is verifiable and has been researched through public records, or through reliable published sources. More on that process here.

    The shows, movies, music, games and other items covered here, and all related characters and placenames, are the property of the originators of the respective intellectual properties. This site is not intended to infringe upon the rightsholders' copyright in any way. theLogBook.com makes no attempt - in using the names described herein - to supercede the copyrights of the rightsholders, nor is any of this information officially sanctioned, licensed, or endorsed by the creators, writers or producers.