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Provided by: joystiq.com1662012-05-15 23:20:00gaming / joystiq.com /

38 Studios whiffed last loan payment, received nearly $50 million from Rhode Island thus far

The hits keep coming for ex-baseballer Curt Schillings' 38 Studios. The company reportedly missed its latest loan payment of $1.125 million to the state of Rhode Island on May 1, effectively defaulting its $75 million loan. WPRI spoke with Rhode Island House Speaker Gordon Fox who confirmed the news.

The loan's facilitator, Rhode Island's Economic Development Corporation, called an "emergency meeting" for tomorrow morning, wherein it will discuss "an unexpected occurrence that requires immediate action to protect the public regarding the 38 Studios financing." As reported earlier, if 38 Studios were to fully default on its loan obligations to investors supplying the loan via the Rhode Island government, the responsibility would fall to Rhode Island's taxpayers - to the tune of $112.6 million.

Of the $75 million borrowed by 38 Studios from the state of Rhode Island, $49.8 million was received by the studio as of March 15, WPRI reports. Given that, it seems worrisome at best that 38 Studios was unable to fulfill its recent payment of $1.125 million. 38 Studios is working on the Kingdoms of Amalur MMO - the game was originally promised for a launch ahead of 2013, when 38 Studios is set to begin paying back bondholders on its $75 million loan. It's unclear what stage its MMO is at, and 38 Studios hasn't made a public statement regarding its recent issues.

[Image credit: 38 Studios]

38 Studios whiffed last loan payment, received nearly $50 million from Rhode Island thus far originally appeared on Joystiq on Tue, 15 May 2012 18:20:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1671970-01-01 00:00:00gaming / joystiq.com /

Check out the new 4-minute super trailer for The Amazing Spider-Man! Failed to Get RSS Data Joystiq Joystiq 38 Studios whiffed last loan payment, received nearly $50 million from Rhode Island thus far

On last night's season premiere of "AmericaAn error was ecnountered attempting to get the RSS data: The server did not return XML. The content type returned was text/html; charset=iso-8859-1 Joystiq

The hits keep coming for ex-baseballer Curt Schillings' 38 Studios. The company reportedly missed its latest loan payment of $1.125 million to the state of Rhode Island on May 1, effectively defaulting its $75 million loan. WPRI spoke with Rhode Island House Speaker Gordon Fox who confirmed the news.

The loan's facilitator, Rhode Island's Economic Development Corporation, called an "emergency meeting" for tomorrow morning, wherein it will discuss "an unexpected occurrence that requires immediate action to protect the public regarding the 38 Studios financing." As reported earlier, if 38 Studios were to fully default on its loan obligations to investors supplying the loan via the Rhode Island government, the responsibility would fall to Rhode Island's taxpayers - to the tune of $112.6 million.

Of the $75 million borrowed by 38 Studios from the state of Rhode Island, $49.8 million was received by the studio as of March 15, WPRI reports. Given that, it seems worrisome at best that 38 Studios was unable to fulfill its recent payment of $1.125 million. 38 Studios is working on the Kingdoms of Amalur MMO - the game was originally promised for a launch ahead of 2013, when 38 Studios is set to begin paying back bondholders on its $75 million loan. It's unclear what stage its MMO is at, and 38 Studios hasn't made a public statement regarding its recent issues.

[Image credit: 38 Studios]

38 Studios whiffed last loan payment, received nearly $50 million from Rhode Island thus far originally appeared on Joystiq on Tue, 15 May 2012 18:20:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1682012-05-15 23:00:00gaming / joystiq.com /

Diablo 3 internet hiccups don't penalize players

Some of you may have experienced this first hand, but if you've yet to suddenly go offline while playing Diablo 3, here's what happens. First, your game will lock up for a minute or so, then you'll be sent back to the character selection screen.

According to Eurogamer, at this point you'll log back in and find that you've retained all gold, experience and items - no penalties there. Once you get back into the game, you'll start from your last checkpoint.

The decision to require a constant internet connection initially received some blowback from the community, but it would seem it's not as bad as initially thought, at least in one regard. Eurogamer even notes that being booted back to the character selection screen didn't happen every time - occasionally the game would resume as if no disconnect even occurred.

Diablo 3 internet hiccups don't penalize players originally appeared on Joystiq on Tue, 15 May 2012 18:00:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1692012-05-15 22:30:00gaming / joystiq.com /

THQ sees net loss of $239.9 million, still in business

THQ saw a net revenue loss of $239.9 million for the fiscal year ending March 31, 2012, $100 million more than the previous fiscal year's loss of $136.1 million.

"We have made significant changes to our business, and are on track to execute our strategy of delivering quality connected core gaming experiences, beginning with the sequel to the award-winning Darksiders in August," president and CEO Brian Farrell said in a THQ earnings statement.

THQ has seen a rough year, with plummeting revenue despite the success of Saints Row: The Third and WWE '12. THQ laid off 240 employees, slashed the salaries of its head honchos and cut its "kids' licensed video games" department earlier this fiscal year, following quarter losses of nearly triple the previous period.

THQ has sold through 84 percent of its shipped uDraw tablets and expects to sell its remaining inventory in fiscal 2013. The company's "future kids' license commitments" have been reduced by $30 million, THQ reports.

THQ describes its emergency layoffs, salary cuts and company rehashing as follows: "The company exited the traditional kids' licensed games business, and streamlined its product line, organization and cost structure to support a smaller company positioned for sustained profitability."

THQ sees net loss of $239.9 million, still in business originally appeared on Joystiq on Tue, 15 May 2012 17:30:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1702012-05-15 22:39:00gaming / joystiq.com /

Darksiders 2 rides into retail August 14

"We look forward to launching Darksiders [2] beginning on August 14 in North America," announced THQ CEO Brian Farrell during an investor conference call today. Farrell said that the delay from the previous June date was a "demonstration of our commitment to quality" - and that, after discussions with retailers, the publisher determined that "mid-August is a more favorable release window."

Pre-orders for Darksiders 2 are more than five times what they were for the first game at the equivalent point before release, Farrell noted. THQ is accompanying this release with double the marketing spend of the first game as well - it needs a hit game, and badly.

Darksiders 2 rides into retail August 14 originally appeared on Joystiq on Tue, 15 May 2012 17:39:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1712012-05-15 22:21:00gaming / joystiq.com /

THQ looking to sell off Devil's Third

Ex-Team Ninja head Tomonobu Itagaki's first project after leaving Tecmo could be in trouble. During today's financial briefing call to investors, THQ president and CEO Brian Farrell said Devil's Third no longer fits the publisher's "profitability profile."

"The profitability profile for Devil's Third no longer met our internal threshold and we are currently in discussions with third parties regarding the future of this title," Farrell said. Devil's Third is the first project from Tomonobu Itagaki's new development studio, Valhalla Game Studios. Itagaki, who is quite possibly best known for his years at Tecmo on the Dead or Alive and Ninja Gaiden series of games, left Tecmo back in 2008.

THQ looking to sell off Devil's Third originally appeared on Joystiq on Tue, 15 May 2012 17:21:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1722012-05-15 22:00:00gaming / joystiq.com /

Street Fighter X Tekken sales fall short of Capcom expectations, 'cannibalism' blamed

Street Fighter X Tekken may have sold over a million units since launch, but Capcom recently declared that the game didn't hit internal expectations.

"Sales of Street Fighter X Tekken have fallen short of our plan. We believe one of causes is cannibalism because of the large number of other games in this genre that were launched within a short time," Capcom stated in a Q&A following its earnings release.

Although such a quote could be directed at companies like Warner Bros.' Mortal Kombat, Namco Bandai's Soulcalibur 5 or indie titles like Skullgirls, we prefer to imagine Capcom speaking that quote into a mirror.

As Eurogamer notes, since bringing back the fighting genre to popular consciousness with Street Fighter 4 in 2008 (consoles in 2009), the company itself has launched: Super Street Fighter 4, Super Street Fighter 4 Arcade Edition, Tatsunoko vs. Capcom: Ultimate All-Stars, Marvel vs. Capcom 3, Ultimate Marvel vs. Capcom 3, Street Fighter x Tekken, along with PSN and XBLA re-releases of fighters from its back catalog.

Street Fighter X Tekken sales fall short of Capcom expectations, 'cannibalism' blamed originally appeared on Joystiq on Tue, 15 May 2012 17:00:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1732012-05-15 21:30:00gaming / joystiq.com /

Saints Row franchise ships 11 million units, SR: The Third expansion due in Sept.

As part of today's year-end financials, THQ announced that the Saints Row franchise has shipped 11 million units globally. Speaking specifically to the latest installment, Saints Row: The Third, the company revealed it has shipped over 4.25 million units and that "the game has generated the highest digital revenue of any console title in the company's history."

That's not the conclusion of Saints Row for the year. Saints Row: The Third: Enter The Dominatrix is expected to launch this September. The game is a standalone product that does not require the third installment to play and started life as an April Fool's gag.

Saints Row franchise ships 11 million units, SR: The Third expansion due in Sept. originally appeared on Joystiq on Tue, 15 May 2012 16:30:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1742012-05-15 21:38:00gaming / joystiq.com /

South Park: The Game delayed to early 2013

South Park: The Game was originally announced with a launch in the second half of 2012, but it has been pushed to Q4 of FY2013, THQ's financial statement reveals. THQ's financial years run April through March, putting the new launch window in early 2013 territory.

Developer Obsidian Entertainment was hit with layoffs in March, with a few losses coming from the South Park: The Game development team.

South Park: The Game delayed to early 2013 originally appeared on Joystiq on Tue, 15 May 2012 16:38:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1752012-05-15 21:44:00gaming / joystiq.com /

THQ: WWE franchise rebranding boosted performance

Which would you be more likely to walk into a store and ask for? Something called "WWE 12" or something called "WWE Smackdown vs. Raw 2011?" THQ reports that common sense has won out, as it attributes increased sales of the new title, in part, to the new naming convention.

"The successful rebranding of this annual franchise has led to higher sell-through to date," the company notes in its latest earnings release, "which is up approximately 20 percent on like-for-like platforms in North America versus the year-ago title." THQ didn't share the sell-through number, but it did disclose that it shipped more than 2.2 million copies since November. It sounds like a much more successful rebranding than "Hollywood Hogan."

THQ: WWE franchise rebranding boosted performance originally appeared on Joystiq on Tue, 15 May 2012 16:44:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1762012-05-15 21:00:00gaming / joystiq.com /

Blizzard's refresher course in Diablo's murderous history

What's all this "Diablo" hubbub today, you wonder? Well, you see, "Diablo" is another name for "Devil" (Spanish!) and you're this monk/warrior/witch doctor/wizard/demon hunter who's gotta kill thousands of demons to get to the main bad demon dude and ... okay, Blizzard does a much better job laying it all out.

Blizzard's refresher course in Diablo's murderous history originally appeared on Joystiq on Tue, 15 May 2012 16:00:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1772012-05-15 19:30:00gaming / joystiq.com /

Somebody finished Diablo 3 in 12 hours [Update: Others did it in 7]

We wonder - when someone finishes an epic, sprawling title such as Diablo 3 in a matter of hours, does he experience the years of excitement, adrenaline and joy had by unrushed players as a super-compressed ball of electric hype? And if so, how does his heart not explode?

Diablo 3 player Yoshichan would know the answers to these questions, as he posted final stats from Diablo 3 showing that he finished the entire game in 12 hours and 29 minutes. Yoshichan played as a Barbarian on Normal difficulty, reached level 32, had 8,368 Lifetime Kills, 412 Elite Kills and collected 168,481 gold during his run. He obviously didn't run into many Templar followers.

We suggest Yoshichan pop an aspirin and give Diablo 3 another, heartier go, but only if he promises to stop and smell the brimstone along the way.

Update: It appears a few more players have gotten past this dreaded "Error 37" monster we keep hearing so much about to finish Diablo 3 in just seven hours. A group of four Korean players ran through the entire title in seven hours on Normal difficulty, and a group of Chinese players did the same, Tom's Hardware reports. [Thanks, AlexLiebensfeld.]

Somebody finished Diablo 3 in 12 hours [Update: Others did it in 7] originally appeared on Joystiq on Tue, 15 May 2012 14:30:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1782012-05-15 20:30:00gaming / joystiq.com /

Six years in, Journey studio rewards itself with two new hires

Did you know that today is thatgamecompany's sixth birthday? It's true! In those six years, the team of approximately a dozen people created Flow, Flower, and, most recently, Journey, all the while cementing their place as heads of the art games movement. The company recently completed its contract with Sony for three exclusive titles, but that doesn't mean it's resting on past successes. For instance, TGC is already in talks with publishers for whatever's next.

Alongside its success, some big names at the studio recently moved on - co-founder Kellee Santiago and executive producer Robin Hunicke both exited in the past few months, following the launch of Journey this past March. Today, TGC adds two new employees.

In light of its big sixth birthday, thatgamecompany is announcing the appointment of two new stars: former director of marketing and business development of PowerMMO Games, Sunni Pavlovic, becomes studio manager, and taking up the new position of audio director is Cloud and Flower contributor Vincent Diamante.

In a prepared statement from TGC, Diamante said, "I'm very excited to be a part of thatgamecompany, joining forces with both friends from past projects as well as new faces. The last time around, I worked with TGC mostly as a music contractor. Things this time around will be a bit different, as I'll be dealing with all sound and music issues on their upcoming game."

Diamante related his first several weeks at TGC as akin to "tight-rope walking with chainsaws," which is, like, the exact opposite of what we imagine working at TGC to be like. Isn't it all floaty stuff and soft music? Quit ruining our illusions, Diamante! You've only just started!

Six years in, Journey studio rewards itself with two new hires originally appeared on Joystiq on Tue, 15 May 2012 15:30:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1792012-05-15 20:00:00gaming / joystiq.com /

Bringing a Chinese shooter to the west with Mercenary Ops

Mercenary Ops is something of a rarity. While there are quite a few Western-developed games being published in Asia by Chinese and Korean companies, there aren't a lot of Chinese-developed online titles being published by Western companies.

Developed in China by Yingpei Games, which used to be called Epic Games China, the shooter is being distributed by the San Francisco-based outfit Kalends, a group of developers who've decided to try their hand at publishing on their own.

As for the game itself, Kalends has announced that Mercenary Ops will be released as a free-to-play, microtransaction-based title - a business plan that has deep roots in China, but is only just breaking ground stateside.

Gallery: Mercenary Ops

Continue reading Bringing a Chinese shooter to the west with Mercenary Ops

Bringing a Chinese shooter to the west with Mercenary Ops originally appeared on Joystiq on Tue, 15 May 2012 15:00:00 EST. Please see our terms for use of feeds.

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Provided by: joystiq.com1802012-05-15 19:30:00gaming / joystiq.com /

Somebody finished Diablo 3 in 12 hours

We wonder - when someone finishes an epic, sprawling title such as Diablo 3 in a matter of hours, does he experience the years of excitement, adrenaline and joy had by unrushed players as a super-compressed ball of electric hype? And if so, how does his heart not explode?

Diablo 3 player Yoshichan would know the answers to these questions, as he posted final stats from Diablo 3 showing that he finished the entire game in 12 hours and 29 minutes. Yoshichan played as a Barbarian on Normal difficulty, reached level 32, had 8,368 Lifetime Kills, 412 Elite Kills and collected 168,481 gold during his run. He obviously didn't run into many Templar followers.

We suggest Yoshichan pop an aspirin and give Diablo 3 another, heartier go, but only if he promises to stop and smell the brimstone along the way.

Somebody finished Diablo 3 in 12 hours originally appeared on Joystiq on Tue, 15 May 2012 14:30:00 EST. Please see our terms for use of feeds.

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