What happened to Atari?
The Atari that everyone knew, loved and hated is gone. On July 30, 1996, Atari merged with disk drive maker JTS with more of whimper than a bang. Don Thomas (75300.1267@compuserve.com) has written a short, insightful bit about the merger and the history leading up to it that asks more questions than it answers. The story doesn’t end there, however. On Feb 23, 1998, JTS sold substantially all of the assets of the Company’s Atari Division, consisting primarily of Atari home computer games and the intellectual property rights and license agreements associated with such games (the “Atari Assets”), to HIACXI, Corp. (“HIAC”), a wholly-owned subsidiary of Hasbro Interactive, Inc., for $5,000,000 in cash. Read the entire 8-K form that was submitted to the Securities and Exchange Commission regarding this transaction. In a related note, JTS filed for Chapter 11 Bankruptcy Protection on December 4, 1998, and then converted it to Chapter 7 on January 28, 1999. What is the difference between the t
