GameSpot has posted an interview with Mike Wilson (Thanks Blues) talking about Gathering of Developers and the consolidation... er.. downsizing... er.. streamlining... er.. efficiency solution management er... yeah. of the company. Here's a good one:

In reality, the concept behind the Gathering of Developers was a pie-in-the-sky ideal that never got the funding it needed. GodGames initially wanted $25 million in venture capital, but it ended up settling for what eventually amounted to an estimated $22.5 million in advances from Take-Two as part of a 20-product deal in exchange for 19.9 percent equity in GodGames. That might have been enough money if all the games arrived on time and were hits, but when the titles started falling behind schedule, the money quickly dried up. "We ran out of money three times," Wilson said, explaining that the sale of GodGames to Take-Two in June 2000 was the only way to stay afloat. "GOD was always hanging by a thread, but when it had to sell to Take-Two, that's when the whole downward spiral really began," said 3D Realms' Scott Miller, one of the founding developers

Here's the story from earlier today.