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Video Game Lawyer: Atari Seeks Court Approval of Plan to Sell Individual Assets

By Eric Misterovich

Beleaguered video game company Atari has asked for approval from the New York court handling its bankruptcy to sell off all of its assets on an individual basis. This move comes after Atari’s attempts to find a purchaser for all of the company’s assets have failed. Atari is seeking $15 million for the Atari brand, $3.5 million for the Rollercoaster Tycoon brand, and $1.5 million for the Test Drive brand. Atari argues that a competitive bidding auction will help Atari obtain the best price for its assets. Atari’s financial problems are thought to have resulted from a shift in the video game industry to freemium and low cost games spurred by hardware innovations in mobile devices.

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