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There's a bidding war brewing over TimeGate's old IP

There's a bidding war brewing over TimeGate's old IP

November 20, 2013 | By Mike Rose

November 20, 2013 | By Mike Rose
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Section 8 creator TimeGate Studios filed for bankruptcy earlier this year. Now a number of different companies are vying for control over the defunct studio's old IP.

Atari's bid for the Section 8 and Minimum IPs has apparently been accepted by the trustee in charge of the bankruptcy move. However, various other companies are contesting the bid, saying that they made larger offers first, according to the Wall Street Journal.

CNH Partners and Digital Tribe Games have offered $50,000 with a 25 percent royalty, while SouthPeak Interactive (who has had a run-in with TimeGate before) has offered $40,000 and a 50 percent royalty.

Both parties are now asking the trustee to reopen the sale process and schedule a live auction. A judge will consider the reopening of the sale this Thursday.


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