Atari files for bankruptcy

AtariThe 21st century iteration of Atari, now owned by the French video game company formerly known as Infogrames, files for Chapter 11 bankruptcy protection as it tries to disentangle itself from its parent company’s descent into insolvency. Revealed in the filing is that, despite numerous modern games distributed under the Atari “label”, licensing of the 1970s Atari logo accounts for almost one-fifth of Atari’s current revenue. The classic Atari game portfolio dating back to such games as Pong and Asteroids is put up for sale in an effort to raise funds for the troubled company.

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