Interplay selling Shiny
The publisher is negotiating the sale of its subsidiary game development studio Shiny Entertainment, which is working on The Matrix.
Interplay Entertainment has announced that it is in the advanced stages of negotiations with a potential buyer of Shiny Entertainment, the development studio that created Sacrifice, Messiah, and MDK and is currently developing The Matrix for the Microsoft Xbox. The sale is intended to help fund Interplay's future growth. Company representatives confirmed that the sale of Shiny would include all games in development at the studio, including The Matrix.
"Although the transaction is not complete and is subject to definitive agreements and satisfaction of various closing conditions, we envision this initiative as a key element in our future growth plans, providing the potential source of funding as Interplay builds on its leadership position in adventure and role-playing games on the PC and next-generation consoles," said Herve Caen, CEO of Interplay. "In combination with our recent cost-cutting measures and management reorganization, this transaction would further strengthen our balance sheet going forward. Games upcoming for release in the second quarter will be the first steps in our renewed growth efforts."
The sale of Shiny Entertainment is the second major corporate announcement this year for Interplay. In January, Interplay's founder and CEO announced his resignation from the company, partially due to tensions with Titus Interactive, the company that acquired Interplay in August of last year.
We'll post more information about the Shiny transition as it becomes available.
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