Infogrames to Reveal Atari Profitability Plan Soon

[+Lynxer2007]

No, what Infogrames did is, they own the Atari name and assets and licensed the use of the Atari name and assets to Infogrames SA (formerly GT Interative) which then renamed itself Atari, Inc. Of course, then Infogrames decided to also use the name itself for Atari Europe, Atari UK, Atari Australia, etc....

 

In 2013 the license expires and is up either for renewal or Atari, Inc will have to change its name to something else. You have to understand that Atari, Inc is technically a totally separate company from Infogrames, however Infogrames is the majority stock holder (owning 51.8% of Atari, Inc stock) therefor while it doesn't OWN Atari, Inc... it gets to dictate what Atari Inc does and doesn't do. Also yesterday Infogrames announced that is has essentially GUTTED the 8 member board of Atari, Inc of 5 of its board members and will be bringing in some kind of Chief Restructuring Officer so "fix" Atari, Inc's financial and operating woes...

 

 

Curt

 

What's this about?

 

IESA continues to own the Atari brand name worldwide and the atari.com url. Atari, Inc. will retain a license to use the name for videogames in North America until 2013.

 

Does that mean Infogrames loses the Atari name in 2013?!

 

Weird. On the back of Atari's game boxes, it always says the Atari name and logo are owned by Atari Interactive, Inc. Why does it say Infogrames owns the name when on their website and game box arts it says Atari Interactive, Inc. owns it?

Are they making it seem like Infogrames never existed?

Edited October 8, 2007 by EMZayas

[Curt Vendel]

Atari Interactive, Inc was one of the company's Infogrames purchase Jan 26, 2001 as part of Hasbro Interactive. You'll see on nearly all products Atari, Inc and Atari Interactive, Inc. So anything that uses the Atari Name/Logo must also mention Atari Interactive since is the holding company for the name, logo and assets bought by Infogrames during the Hasbro Interactive acquisition...

 

 

Meanwhile, seems like people are not taking too kindly to Infogrames aggressive removal of all of the Independent board members from Atari, Inc. Stock took a major dive of nearly 12% today:

 

http://finance.yahoo.com/q?s=ATAR

 

 

Curt

 

 

No, what Infogrames did is, they own the Atari name and assets and licensed the use of the Atari name and assets to Infogrames SA (formerly GT Interative) which then renamed itself Atari, Inc. Of course, then Infogrames decided to also use the name itself for Atari Europe, Atari UK, Atari Australia, etc....

 

In 2013 the license expires and is up either for renewal or Atari, Inc will have to change its name to something else. You have to understand that Atari, Inc is technically a totally separate company from Infogrames, however Infogrames is the majority stock holder (owning 51.8% of Atari, Inc stock) therefor while it doesn't OWN Atari, Inc... it gets to dictate what Atari Inc does and doesn't do. Also yesterday Infogrames announced that is has essentially GUTTED the 8 member board of Atari, Inc of 5 of its board members and will be bringing in some kind of Chief Restructuring Officer so "fix" Atari, Inc's financial and operating woes...

 

 

Curt

 

What's this about?

 

IESA continues to own the Atari brand name worldwide and the atari.com url. Atari, Inc. will retain a license to use the name for videogames in North America until 2013.

 

Does that mean Infogrames loses the Atari name in 2013?!

 

Weird. On the back of Atari's game boxes, it always says the Atari name and logo are owned by Atari Interactive, Inc. Why does it say Infogrames owns the name when on their website and game box arts it says Atari Interactive, Inc. owns it?

Are they making it seem like Infogrames never existed?

[Video]

Wonder if their 'profitiability plan' is something like "sell atari...take money....Run like hell"

 

Everybody else has been takeing the easy way out like that

[Curt Vendel]

Take the money.... that would be interesting if there would be any left.... Take a look at the stock:

 

http://finance.yahoo.com/q?s=ATAR

 

 

It just lost 30% of its value in after hours market trading and is now down to $1.60 per share. That puts the current market cap at roughly $21.9 million or so. Also look at the trade volume, over 400K shares traded today, Atari hasn't seen that kind of volume in years. Someone just dumped a MASSIVE amount of stock tonight.

 

 

Curt

 

Wonder if their 'profitiability plan' is something like "sell atari...take money....Run like hell"

 

Everybody else has been takeing the easy way out like that

Edited October 10, 2007 by Curt Vendel

[MCHufnagel]

Take the money.... that would be interesting if there would be any left.... Take a look at the stock:

 

http://finance.yahoo.com/q?s=ATAR

 

 

It just lost 30% of its value in after hours market trading and is now down to $1.60 per share. That puts the current market cap at roughly $21.9 million or so. Also look at the trade volume, over 400K shares traded today, Atari hasn't seen that kind of volume in years. Someone just dumped a MASSIVE amount of stock tonight.

 

 

Curt

How much do you wanna bet it was Atari/Infogrames insiders and/or friends?

[+Lynxer2007]

Looks like Infogrames appointed some new board members. Link here

 

Atari, Inc. Announces:

 

- The Appointment of Four Independent Directors to its Board

 

- The Appointment of Curtis G. Solsvig III as Chief Restructuring Officer

 

NEW YORK, Oct. 15 /PRNewswire-FirstCall/ -- Atari, Inc. (Nasdaq: ATAR), following the action taken by Infogrames Entertainment, S.A. to remove certain members of Atari, Inc.'s Board on Friday, October 5, 2007, announced today:

 

-- The appointment of Wendell Adair, Eugene I. Davis, James B. Shein, and

Bradley E. Scher as independent directors on its Board. They will join

Evence-Charles Coppee, Jean-Michel Perbet and Thomas Schmider as

members of the Atari, Inc. Board. Mr. Davis has been appointed the

non-executive Chairman of the Board. Messrs. Adair, Davis and Shein

will serve on the Audit Committee of the Board, with Mr. Adair acting

as Chair. Messrs. Adair, Shein and Scher will serve on the

Compensation and Governance Committee of the Board, with Mr. Shein

acting as Chair and all four new Board members will serve on a Special

Committee of the Board that will review related party transactions.

 

-- The appointment of Curtis G. Solsvig III as Chief Restructuring

Officer. Curtis G. Solsvig III works at AlixPartners, which has been

retained to assist Atari, Inc. in evaluating and implementing

strategic and tactical options through the restructuring process of

Atari, Inc.

 

Wendell Adair is a senior lawyer with 35 years of experience specializing in restructuring and corporate finance. He held previously Senior Partner positions at leading US law firms, including Stroock, Stroock & Lavan and McDermott, Will & Emery. He has previously served on the boards of companies as an independent director and advised corporate boards with respect to governance, fiduciary duty and financing matters. Mr. Adair was named as one of the "Top 100 Restructuring Professionals" in the years 2000 to 2006.

 

Eugene I. Davis is the founder and chairman of the consulting group Pirinate Consulting Group, LLC focused on restructuring situations for middle market companies. Prior to this, Mr. Davis held positions of COO at Total-Tele USA and CFO at Emerson Radio. Mr. Davis is a qualified lawyer and previously a partner at Arter & Hadden. Over the last 10 years he has worked on several dozen restructuring situations, including high profile restructurings such as those of Delta Air Lines and Atlas Air Worldwide. He has served as independent chairman of the board or chairman of the audit committee for over fifteen companies.

 

James B. Shein is a professor of Management and Strategy at the Kellogg School of Management of Northwestern University and serves as Counsel at the law firm of McDermott Will and Emery LLP. Mr. Shein has over 30 years of experience working with companies in management and planning initiatives and has served as the chief executive officer of several companies, including Northbrook Corporation. In addition, he previously held educational and consulting positions in the areas of corporate restructuring, strategy and organization. He is a frequent lecturer on corporate turnarounds, mergers and acquisitions and asset protection and has previously served as an advisor to or as a director and chair of the governance and compensation committee of public and private companies.

 

Bradley E. Scher is a Managing Member of Ocean Ridge Capital Advisors, LLC and has worked most of his career with distressed companies or investment vehicles. He has managed large investment funds, advised on financings and evaluated borrower situations in his management and/or advisory roles at companies including Ocean Ridge Capital Advisors, PPM America, Teachers Insurance and Annuity Association of America, The Travelers Companies (Hartford), and Chemical Bank. Mr. Scher has served as an audit committee member and director for both private and public entities.

 

Curtis G. Solsvig III is a Managing Director at AlixPartners, and has extensive experience in restructuring and managing companies in distressed circumstances. He had been most recently appointed as interim CEO of CornerStonePropane LP, the fifth largest retail propane distributor. He previously founded Everett & Solsvig, a company specializing in turnaround consulting and interim management. He also worked at Alvarez & Marsal and at the Boston Consulting Group in London and in New York, assisting clients in the restructuring process and in developing solutions to their strategic problems. He has served on the boards of a number of public and private companies.

 

About Atari

 

New York-based Atari, Inc. (Nasdaq: ATAR) develops interactive games for all platforms and is a third-party publisher of interactive entertainment software in the U.S. The Company's 1,000+ titles include hard-core, genre- defining franchises such as Test Drive®; and mass-market and children's franchises such Dragon Ball Z®. Atari, Inc. is a majority-owned subsidiary of France-based Infogrames Entertainment SA (Euronext - ISIN: FR-0000052573), an interactive games publisher in Europe. For more information, visit http://www.atari.com.

[Artlover]

Wonder if their 'profitiability plan' is something like "sell atari...take money....Run like hell"

Maybe it's more like a 3 step SouthPark plan.

 

1: 2600 carts

2: ??????????

3: Profit!

[Video]

Take the money.... that would be interesting if there would be any left.... Take a look at the stock:

 

http://finance.yahoo.com/q?s=ATAR

 

Sure, they wouoldn't make any profit if they just sold it...however, they would stop loosing money (which technically counts as prophit)

 

1: 2600 carts

2: ??????????

3: Profit!

 

:lol: Yeah, I'm there dude....

Edited October 16, 2007 by Video

[tcropper]

To all of you that have been talking about Atari and where they are going, check out my post in the 8-bit section called (re)build a *NEW* Atari.

I am trying to get some interested folks to get together. I think we can take some of the old Atari Prototypes and either have Atari make them into a new home-computer/game system, or we will do it ourselves.

 

I think that Atari might be interested in this idea, or maybe we can find someone who is interested...

 

I know that I have been wanting something new to play with in terms of hardware, so go check out my posts and post your reply on what you think.