38 Studios video game headed to auction blockSeptember 27th, 2013 in Technology / Business
The video game under development when Curt Schilling's 38 Studios went bankrupt is headed to the auction block.
The formal marketing by Heritage Global Partners of the game and other intellectual property begins Friday. Prospective bidders will be vetted before an auction, tentatively scheduled for November.
Richard Land, the receiver for 38 Studios, declined to estimate the worth of the unfinished game, code-named "Copernicus," but he says it has "significant value." He says multiple parties have expressed interest.
Rhode Island's economic development agency gave 38 Studios a $75 million loan guarantee in 2010. The company filed for bankruptcy last year. The state's on the hook for some $90 million related to the deal.
Industry analyst Michael Pachter doubts the game is worth much because it would cost tens of millions to finish.
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"38 Studios video game headed to auction block." September 27th, 2013. http://phys.org/news/2013-09-studios-video-game-auction-block.html