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
"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
We'll post more information about the Shiny transition as it becomes available.