Atari, Bethesda-Parent ZeniMax Snag Funding
But the $10 million won't come close to solving Atari's problems, whose parent company recently announced plans for a major restructuring after Atari filed a delayed fiscal year 2007 report detailing a $69.7 million loss. The announcement from Atari described the $10 million credit as "a first step in securing financing to build inventory for the 2007 calendar holiday season and for day-to-day working capital needs," though it added that "additional financing is being sought."
ZeniMax, on the other hand, has a much brighter outlook, with the $300 million planned to "fund future growth, increase game development and publishing, facilitate acquisitions, and finance massively multiplayer online games (MMOGs)," according to the announcement.
