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Posts tagged rhode-island

Rhode Island EDC sues Curt Schilling and more over 38 Studios loan

Back in May, Project Copernicus developer 38 Studios became embroiled in the controversy of the year when the studio officially shut down and fired all 379 of its employees. The story quickly turned political as the studio had been granted a loan of $75m US by the state of Rhode Island and it bec...

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38 Studios auctions recoup $830k of $150.7M owed

Earlier this week, 38 Studios' former headquarters in Providence, Rhode Island played host to a public auction that brought in approximately $650,000 through over 1,000 bidders. If you combine this number with last week's auction at the studio's Big Huge Games division, the total recouped through...

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Curt Schilling might pay back debt by selling baseball memorabilia

Curt Schilling is most recently famous for failing spectacularly at using loans from Rhode Island and investors to create a Kingdoms of Amalur MMO. As the founder of the now-bankrupt 38 studios and someone who personally guaranteed some $12 million worth of loans related to the studio, Schillin...

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R.A. Salvatore details the lack of death in Project Copernicus

"To be or not to be" is not a question asked in most MMOs. Characters don't die permanently, after all. But Project Copernicus wouldn't have waved that fact off as an irrelevant necessity of game mechanics. No, according to R.A. Salvatore, the game world would have explored the meaning behind a w...

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38 Studios loan could impact state elections

If you've started to forget about the saga of 38 Studios' collapse, rest assured that Rhode Island politicians certainly have not. With the election coming soon, many in the state are scrambling to offset the blame for the $75 million loan decision and protect their positions. The Associated Pres...

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Rhode Island possesses 38 Studios' games, looks to sell

While 38 Studios is finished, its employees laid off, and its projects canceled, there's really only one thing left to be done: figure out what to do with the leftovers. The court granted the state of Rhode Island all of 38 Studios' assets, including rights to its single-player RPG and the unfini...

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Subpoenas issued over 38 Studios deal, Citizens Bank sues Schilling [Updated]

While the fallout from 38 Studios' collapse carries with it a human toll, it also has triggered a legal one as well. State and federal law enforcement agencies have issued subpoenas to both Bank Rhode Island and the Rhode Island Economic Development Corporation over the loans that enticed the gam...

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Layoffs confirmed for 38 Studios, Rhode Island takes no action

If last week's Project Copernicus flythrough had been a hopeful note, the latest news out of 38 Studios is another downturn. Following a meeting today, the Rhode Island EDC board decided to take no action to help the ailing company at this time. Governor Lincoln Chafee said following the meeting ...

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38 Studios' Project Copernicus to release in June 2013, says RI governor

It is not every day that a U.S. governor is the one to announce the launch window for an MMO, so savor the weirdness while you can: Rhode Island Governor Lincoln Chafee announced at a press conference that 38 Studios will be releasing code-name Project Copernicus next summer. "What I understand i...

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38 Studios paying state back by not paying employees

If you're familiar with the phrase "robbing Peter to pay Paul," you'll understand the latest episode in the ongoing 38 Studios financial crisis. Except replace "Paul" with "the state of Rhode Island" and "Peter" with "the company's employees." Yes, in order to make the most recent payment to the ...

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