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Cheyenne Mountain Entertainment sells off Stargate assets

Justin Olivetti — Mon, 29 Mar 2010 16:30:00 EST

Filed under: Sci-fi, MMO industry, Stargate Worlds

It's a troubling day for an already-troubled studio, as Cheyenne Mountain Entertainment has sold off Stargate Resistance -- the third-person shooter title that was made to help keep the company afloat and fund further development of Stargate Worlds -- to a startup company called Fresh Start. Fresh Start is comprised of former Cheyenne Mountain Entertainment employees, which means that the title is still in the hands of its makers.

Gamer/Law breaks down the recent events, and notes the salient details: that Fresh Start is in a joint venture agreement with CME to receive and run all of CME's assets (including Stargate Resistance), CME has the option to buy back these assets in the future, and there is no official word on Stargate Worlds. Gamer/Law speculates that there is either "some unpublicised arrangement has been entered into, or Cheyenne's Stargate MMO rights are an asset to be sold to satisfy creditors, or (possibly) Cheyenne has lost those rights following its entry into bankruptcy."

If you haven't been following the long, painful saga of CME and Stargate Worlds, suffice to say that this promising MMO suffered from lack of employee pay, devs jumping ship, extensive layoffs, lawsuits, Chapter 11 bankruptcy, a vague suit brought against former CEO Gary Whiting, and the sudden shift from developing SGW to getting Stargate Resistance out the door. However, whether this latest development will be a positive one to offer hope for a SGW resurrection or the death knell for the game has yet to be seen.

Cheyenne Mountain Entertainment sells off Stargate assets originally appeared on Massively on Mon, 29 Mar 2010 16:30:00 EST. Please see our terms for use of feeds.

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Perpetual disbanding, STO in jeopardy [Updated]

Samuel Axon — Mon, 26 Nov 2007 15:30:00 EST

Filed under: Sci-fi, MMO industry, New titles, News items, Star Trek Online

South Korean company Gravity was forced in a mandatory SEC report to spill the beans that Perpetual Entertainment is seeking liquidation of all its assets and will soon cease to exist as a company. Gravity had to disclose this information in compliance with US law to inform its shareholders that it stands to lose $9 million in investments in Perpetual Entertainment due to the company's failure.

Perpetual Entertainment filed for liquidation on the 10th of October, just a day after it announced the cancellation of its Gods & Heroes project. While appearances are that Star Trek Online has remained in some kind of development (however limited) in the short term, Perpetual will soon be forced to sell all its assets to pay off its debts.

That means that either Star Trek Online is due for cancellation, or the project will be sold to a new development studio. Perpetual's continued work on STO is evidence that it at least hopes to keep the project alive by handing it off to another company. We don't know if Perpetual already has a buyer lined up or which company that buyer would be.

[EDIT: WarCry's Razor has suggested that the SEC report is misleading and that this was just a part of the process of ending development of Gods & Heroes. His suggestion might be worthy of consideration, but there is not yet enough evidence behind it for us to call this a false alarm. We've sent an e-mail to our press contacts at Perpetual Entertainment for clarification and when/if we get a statement, we'll let you know.]

Perpetual disbanding, STO in jeopardy [Updated] originally appeared on Massively on Mon, 26 Nov 2007 15:30:00 EST. Please see our terms for use of feeds.

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