Report: 38 Studios Assets Going to Auction ‘Soon’

It looks like Rhode Island will finally have an auction to sell off 38 Studios' intellectual property. According to an IGN report citing, the court-appointed receiver for the assets, Richard Land, says that an auction will happen "soon." The state took possession of the 38 Studios IP after the company defaulted on a $75 million loan and filed for bankruptcy.

"The process is taking longer than we anticipated for a variety of reasons including the complexity of the game itself," Land told Wednesday. "We have engaged an auctioneer and they are developing an Internet marketplace – or website – to market the game."

Land told the news station that there has been some interest in purchasing the assets, but wouldn't say how much the state hoped to get from selling them. Gov. Lincoln Chafee has said in the past that he hopes the sale could help offset some of the roughly $100 million taxpayers are on the hook to repay 38 Studios bondholders.

Land also said that the first game completed by the studio and distributed by EA, Kingdoms of Amalur: Reckoning, continues to sell and that some parties might be interested in buying the franchise to create a follow-up game.

Land would not give a date for the sale of Kingdoms of Amalur: Reckoning and the unfinished MMO Project Copernicus.

More details when we have them.

Source: IGN


Tweet about this on TwitterShare on FacebookShare on Google+Share on RedditEmail this to someone