Atari seeking bankruptcy protection
Posted at: 01/22/2013 6:39 AM
By: Associated Press | WHEC.com
The creator of Pong is filing for Chapter 11 bankruptcy protection.
Videogame maker Atari's U.S. operations are seeking to separate from their French parent company.
In a statement, Atari says the move is necessary to secure investments it needs to grow in mobile and digital gaming.
Atari, which turned 40 last year, was a videogame pioneer with titles like Pong and Centipede. But it has changed owners several times amid financial problems. France's Infogrames Entertainment first took a stake in Atari in 2000. It acquired the remaining stake in 2008.