OnLive No More?

Cloud Gaming Company in Rumored Bankruptcy

After Tweets that initially sparked fears for the future of OnLive, Kotaku is reporting that the cloud gaming company is filing for a form of bankruptcy.

Game developer Brian Fargo tweeted:

"Their employees are sending out emails that will be closed by the end of the day"

Kotaku reports that a source in the company told them that CEO Steve Perlman informed some members of staff that OnLive would be seeking a form of bankruptcy - Assignment for the Benefit of Creditors.

Apparently affirming Fargo's tweet, Kotaku's Evan Narcisse continued:

"Perlman also said that the company as it stands now would cease to exist and that no one would be employed by OnLive. A subset of employees would be brought on to the company created from the remains of OnLive."

Whether OnLive continues in one form or another, it appears another game industry company is enforcing a number of layoffs in a very hostile jobs market.

Our best wishes to those affected.

                                                                                         Scott "Jarimor" Hawkes, Editor In Chief

Tags: News


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