Microsoft to bid on bankrupt 3DO
Reuters | at | by Mike
Seven video game companies, including Microsoft, Eidos and Ubi Soft Entertainment, have qualified to bid in the auction for the assets of bankrupt publisher 3DO, according to court papers filed on Thursday. Microsoft entered the console games business two years ago with its Xbox console, though it was in the PC games business for years beforehand.
According to the court order approving the sales procedures, bidders were required to place deposits of anywhere from $10,000 to $100,000 to bid on the various asset groups, including the in-progress games "Street Racing Syndicate" and "Four Horsemen of the Apocalypse." Bidders interested in all of the assets as a group were required to deposit $250,000.