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Atari Inc: money out, money in

Posted Dec 11, 2007 at 02:30PM by Isaac C. Listed in: News Tags: Atari, Michael Pachter, Infogrames
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Atari Inc. - Image 1


Things may be starting to perk up for Atari Inc. after its recent financial woes. They've managed to settle their differences with FUNimation (for a substantial settlement) and increased their credit limit to tide them over for the holidays.

Their settlement with FUNimation amounted to US$ 3.5 million. With this, Atari can now continue to own the rights to distribute their Dragon Ball Z franchise. Atari originally paid US$ 10 million for the distribution licenses.

Atari has also increased their credit limit from US$ 10 million to US$ 14 million to tide them over for the holidays. As part of the deal to increase their credit, they've reworked their distribution agreements with major shareholder Infogrames.

Still, these recent developments may yet end up proving Wedbush Morgan analyst Michael Pachter's prediction that Atari will be demoted to distributor correct. We'll have to wait and see.

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