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chili325
07-24-2002, 06:04 PM
Sorry if this has been posted.

3DO says to reverse course, publish Xbox games


REDWOOD CITY, Calif., July 24 (Reuters) - In a reversal of its prior stance, video game publisher 3DO Co. <THDO.O> on Wednesday said it would begin to publish games for Microsoft Corp.'s <MSFT.O> Xbox video game console.

Redwood City, California-based 3DO, which is seeking shareholder approval for a 1-for-8 reverse stock split to avoid being delisted from Nasdaq, said it would bring both established brands and new titles to the console.

"Microsoft has proven their commitment to making Xbox an outstanding gaming system," 3DO founder and Chief Executive Trip Hawkins said in a statement.

The two sides did not disclose the terms of their publishing agreement, including any details on the number of games to be produced.

3DO's spokeswoman was out of the office and not available for comment.

Hawkins, an industry legend who before 3DO founded Electronic Arts Inc. <ERTS.O>, the No. 1 independent publisher in the industry, had in the past said the Xbox was not a good opportunity for publishers.

"The Xbox is a challenging opportunity for game publishers to make a profit from it," Hawkins told Reuters last November. In October of last year, he told Reuters the company would focus on producing games for consoles other than the Xbox as it worked to return to profitability.

3DO shares were up 22 percent at 39 cents in afternoon trade on Nasdaq after the announcement. Over the last year, the shares have traded as high as $5.20 and as low as 30 cents.

The reverse split proposal is set to be considered at 3DO's annual meeting on Aug. 20, following Nasdaq's move in late June to begin delisting the stock for being below the $1 minimum trading price.

Earlier this month, the company said it had secured a new $15 million credit line, which includes a requirement that the company raise $4.6 million in additional financing by Oct. 1. 3DO has said Hawkins will provide that capital himself if necessary.

07/24/02 14:02 ET

faceoff508
07-24-2002, 06:06 PM
Who really cares? Thier games suck anyway. They are doing this cause nobodies buying thier games on the PS2.

Magnum Blast
07-24-2002, 06:23 PM
NOOOOOOOOOOOOOOOO. God I hate 3DO. They are a great example of horrible devolpers. Army Men games are on the top of my hate list along with casual gamers and bees.

Mercury
07-24-2002, 06:36 PM
I'm all for it if they make a nice console version of Heroes of Might and Magic. That would be a great game to have on my xbox and to play online with it?...Woah! I'd be very excited.

But the army men games can go to hell!

robnyack
07-24-2002, 07:07 PM
the do make THE best baseball game, bar none....Highheat. But, of course, it's the pc version that is the greatest. The console version is horrible.

Be nice if they brought the greatness of the Highheat franchise and spruced it up to take advantage of the great graphics that are possible. But, sadly, these guys never seem too interested in good graphics.

Kraft
07-24-2002, 10:18 PM
As big a flop as the 3do was, there was one game that I kept renting the system for because I couldn't get enough of it: return fire. Dear lord almighty that was a fun fun fun game.

The Source
07-25-2002, 12:42 AM
I agree with all of you 100% 3DO sucks.

Marc
07-25-2002, 01:03 PM
3DO SUCKS/ Nightrap, anyone?

Expedite_Wrap
07-25-2002, 06:28 PM
I couldnt agree more kraft unbeliable addicting game......oh the mamories:D