Liquidation of 38 Studios Assets Gets Multi-Million Dollar Valuation

Late yesterday, Joystiq reported that the liquidation of 38 Studios’ assets is revealing many millions in value.

Said Jonathan Savage, council for the Rhode Island Economic Development Corporation:

“We have had in recent days discussions with investors that were and, to my knowledge, are discussing substantial numbers, which indicate that there could be significant value to the assets. I can say that discussions we’ve had have been in the tens of millions of dollars.

And Rhode Island Governor Lincoln offered his own perspective on the liquidation as well:

“We are going to do everything possible to maximize return on our investment. Taxpayers in Rhode Island can have full confidence that if there’s a penny that we can get, or a nickel or a dime, we’ll get it.”

It sounds as if some game companies might be sniffing around what’s left of the studio, at least that’s what I get from Savage’s quote. Maybe a big developer or publisher will put up a few million dollars in cash to scoop up the studio’s in-limbo IPs (Kingdoms of Amalur and Project Copernicus) and continue the games with their own companies. Now that 38 Studios has filed for bankruptcy and their assets are being liquidated, that means (I think) that buying the IPs wouldn’t necessarily also come with buying the debt. Suddenly a new franchise that sold 1.2 million in two months being sold at a fraction of its previous valuation looks a lot more attractive than it might’ve last month…

Via Joystiq

Previous Coverage

• Reports: Amalur Developer 38 Studios Struggling to Stay Afloat
• 38 Studios Missed First Loan Repayment
• Schilling’s 38 STudios Bounces $1.125 Million Check, Can’t Make Payroll
• 38 Studios Makes good on First Payment for $1.125 Million
• 38 Studios Lays Off Employees, Says Rhode Island Governor
• 38 Studios Execs Leave, Employees Unpaid Since May 1
• Screens from Project Copernicus Appear Online
• 38 Studios Lays Off Entire Staff
• Fired 38 Studios Employees Hit with Second Mortgages on Unsold Boston Houses
• Rhode Island Finds 38 Studios in Violation of Labor Laws for Sudden Layoffs
• Author R.A. Salvatore Weighs in on 38 Studios Fiasco
• Amalur 2 was in Pre-Production, Shopped Around to Other Publishers
• Schilling Speaks Out on 38 Studios Disaster
• Epic Games Helping Big Huge Games, Setting Up New Studio for Them
• 38 Studios Finally Filed for Bankruptcy Today