Shiny getting pawned off by Interplay
Interplay Entertainment announced today that it is preparing to sell Shiny Entertainment to a potential buyer. Best known for its first work, Earthworm Jim, and later on for Wild 9's, Sacrifice, Messiah, and MDK, Shiny has been in development with next-generation console versions of The Matrix. The sale of Shiny Entertainment is the second major corporate announcement this year for Interplay. In January, Interplay's founder and CEO announced his resignation from the company. Apparently, the sale of Shiny is intended to help fund Interplay's future growth. Herve Caen, CEO of Interplay, had this to say on the issue:
"Although the transaction is not complete and is subject to definitive agreements and satisfaction of various closing conditions, we envision this initiative as a key element in our future growth plans, providing the potential source of funding as Interplay builds on its leadership position in adventure and role-playing games on the PC and next-generation consoles," said Herve Caen, CEO of Interplay. "In combination with our recent cost-cutting measures and management reorganization, this transaction would further strengthen our balance sheet going forward. Games upcoming for release in the second quarter will be the first steps in our renewed growth efforts."
4/15/2002 Matt Stensrud