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Acclaim Debuts Free "Rockfree" Web-based Music Game

Authored by Mark Hefflinger on December 1, 2008 - 1:57pm.

Los Angeles - Video game publisher Acclaim has released a public beta of its free, music-based online game, "Rockfree," which aims to compete with more elaborate, costlier titles like "Guitar Hero" and "Rock Band." The browser-based game, set to officially launch in the first quarter of 2009, features licensed tracks from Warner Music, Sony, EMI and WaveGroup.

tags: Games | Music | Acclaim | Rockfree |

Acclaim Passes 1 Million Registered Users for MMOG

Authored by Scott Goldberg on May 1, 2007 - 1:34pm.
Acclaim Games announced today that it passed 1 million registered users for the multiplayer online robot fighting game BOTS.  Customers can play the game for free by registering and downloading it to their PC.  Acclaim will hold a BOTS 1 Million Players Event from May 2-7 where players can play to win prizes and earn major points.

 
Related Links:
http://www.acclaim.com
tags: Games | Social Networking | Video Games | Millennials | Acclaim | MMOG |

Video Game Publisher Acclaim Files for Ch. 7 Bankruptcy

Authored by Mark Hefflinger on September 3, 2004 - 5:38am.
Glen Cove, N.Y. -- Struggling video game publisher Acclaim Entertainment announced that it has filed for Ch. 7 bankruptcy in the Eastern District Court of New York, after failing to secure a replacement loan for its expired agreement with GMAC Commercial Finance. Under the Ch. 7 filing, the company -- which listed debt of over $100 million -- will have its assets, listed at between $10 and $50 million, liquidated, with the proceeds distributed among creditors. It is not clear yet what will happen to titles that were soon to be released, such as "100 Bullets," "Juiced" and "The Red Star." In addition to its inability to secure a new lender, New York-based Acclaim recently restated results from the past three years after discovering an accounting error, experienced weak sales of its titles, and was sued by celebrity partners including Mary-Kate and Ashley Olsen and BMX rider Dave Mirra. The company employed 600 developers and staff in the U.S. and U.K.
tags: Law | Video Game Publisher | Acclaim | Ch. 7 Bankruptcy |

Game Developer Acclaim Lays Off 600, Will File for Bankruptcy

Authored by Mark Hefflinger on August 31, 2004 - 10:08am.
Glen Cove, N.Y. -- Struggling video game developer Acclaim Entertainment has laid off all 600 of its employees and will file for Ch. 7 bankruptcy on Tuesday, according to various published reports citing sources within the company. Acclaim was unable to renew its loan with GMAC Commercial Finance, and unsuccessful in locating an alternative $65 million loan. Company CFO Gerald Agoglia told employees at the company's Glen Cove, N.Y. headquarters of the news late Friday, IGN.com reported; Acclaim also operated development studios in Austin, Texas and Manchester and Cheltenham in Great Britain. The company will not publish titles such as "The Red Star" and "Juiced," which were slated for release in September. Acclaim has suffered weak sales of its titles over the past year, and was also compelled to restate results from the past three years after discovering an accounting error. Acclaim shares were delisted from the Nasdaq last week after failing to meet Nasdaq requirements.
tags: Games | Acclaim | File | Bankruptcy |

Struggling Games Firm Acclaim Behind on U.K. Payroll, May File for Ch. 11

Authored by Mark Hefflinger on August 30, 2004 - 11:22am.
London -- GamesIndustry.biz reported on Friday that employees at struggling video game developer Acclaim Entertainment's Manchester, U.K. and Austin, Texas were sent home today, and also that the company's U.K. employees have not been paid for the month of August. The company's staff at its Austin studio was reportedly sent home after the landlord at the facility locked the doors for nonpayment of rent. Acclaim announced last week that it may have to file for Ch. 11 if it cannot locate a lender to replace its expired credit facility with GMAC Commercial Finance, at the same time that its shares were also delisted from the Nasdaq.
tags: Games | U.K | Acclaim | Payroll |

Struggling Games Firm Acclaim Behind on U.K. Payroll, May File for Ch. 11

Authored by Mark Hefflinger on August 27, 2004 - 8:17pm.
London -- GamesIndustry.biz reported on Friday that employees at struggling video game developer Acclaim Entertainment's Manchester, U.K. and Austin, Texas were sent home today, and also that the company's U.K. employees have not been paid for the month of August. The company's staff at its Austin studio was reportedly sent home after the landlord at the facility locked the doors for nonpayment of rent. Acclaim announced last week that it may have to file for Ch. 11 if it cannot locate a lender to replace its expired credit facility with GMAC Commercial Finance, at the same time that its shares were also delisted from the Nasdaq.
tags: Games | Acclaim | Payroll | Channel 11 | Struggling Games |

Game Publisher Acclaim Faces Bankruptcy, Nasdaq Delisting

Authored by Mark Hefflinger on August 24, 2004 - 2:01am.
Glen Cove, N.Y. -- Video game publisher Acclaim Entertainment has announced that it will be forced to declare bankruptcy if negotiations with a new proposed lender fail to replace its existing credit facility with GMAC Commercial Finance, which expired on Aug. 20. Additionally, Acclaim said that the Nasdaq has notified it that its shares are in danger of being delisted from the exchange for failing to meet the minimum market capitalization requirements. Acclaim shares will trade on the Nasdaq Small Cap Market pending an appeal process of the Nasdaq's decision. Glen Cove, N.Y.-based Acclaim, known for its "All-Star Baseball," "NBA Jam" and "Dave Mirra Freestyle BMX" franchises, has struggled recently with weak sales of its game titles, in addition to several shareholder class action lawsuits and an accounting error that compelled the company to restate results for the past three years.
tags: Games | Nasdaq | Acclaim | Bankruptcy |

Game Publisher Acclaim Sued by Developer, May Face Bankruptcy

Authored by Mark Hefflinger on July 7, 2004 - 6:53am.
Reno, Nev. -- Video game developer BattleBorne Entertainment announced on Wednesday that it has won a preliminary injunction against the release of its "Combat Elite: WWII Paratroopers" title by publishing partner Acclaim Entertainment, which it sued for breach of contract. Nevada-based BattleBorne claims Acclaim failed to make payments and threatened to release the title before all payments were made. The news is just the latest woe for New York-based Acclaim, whose shares have dropped nearly 20% this week after the company revealed on Friday that it may need to seek bankruptcy protection if it cannot obtain new bank financing.
tags: Games | Developer | Acclaim | Bankruptcy |

Game Publisher Acclaim to Restate Earnings; Secures New Credit Facility

Authored by Mark Hefflinger on May 5, 2004 - 3:03am.
Glen Cove, N.Y. -- Video game publisher Acclaim Entertainment announced on Wednesday that it will restate its financial results for 2001-2003 after discovering a $9.5 million error in its books. The company also said that its primary lender, GMAC, will provide an additional $3 million to Acclaim, and announced that it is securing a $22.8 million asset-based credit facility with a new primary lender to replace the GMAC facility, which will terminate in June. Recently, New York-based Acclaim was sued by child actors turned media and fashion moguls Mary-Kate and Ashley Olsen, over a series of games that uses the twins' names and likenesses.
tags: Games | Acclaim | Restate | New Credit |

Video Game Developer Acclaim Raises $15 Million in Note Sale

Authored by Mark Hefflinger on February 18, 2004 - 8:22am.
Glen Cove, N.Y. -- Acclaim Entertainment, a developer and publisher of video games, announced on Wednesday that it has raised $15 million through the sale of convertible notes, due in 2007, to an undisclosed investor. The investor also has the opportunity to buy an additional up to $10 million in notes. New York-based Acclaim is responsible for developing games including "NBA Jam" and "All-Star Baseball," a title based on the TV series "Alias" and sports titles featuring BMX rider Dave Mirra.
tags: VC | Video Games | Acclaim | Note Sale |

Acclaim Settles Suit With BMX Rider Dave Mirra Over Racy Video Game

Authored by Mark Hefflinger on October 27, 2003 - 10:10am.
Glen Cove, N.Y. -- Video game publisher Acclaim announced on Monday that it has settled a contract dispute with BMX athlete Dave Mirra, who had licensed his name for a line of Acclaim video games but protested when the company used his name for its racy "BMX XXX" game. Mirra sued Acclaim for $20 million for not seeking authorization before using his name and likeness in the game, which some retailers refused to carry because it features strippers and other mature content. Under the terms of the settlement, Mirra dropped his lawsuit against Acclaim and no damages were paid on either side. Mirra will continue his relationship with Acclaim, having signed an endorsement deal through 2011. "I'm glad that this issue is behind us," said Mirra. "I look forward to working with Acclaim and to continue making the best BMX video games available for fans of the sport."
tags: Video Game | Acclaim | BMX | Dave Mirra |

Game Developer Acclaim Raises $11.8 Million in Private Placement

Authored by Mark Hefflinger on October 7, 2003 - 4:59am.
Glen Cove, N.Y. -- Video game developer and publisher Acclaim Entertainment announced that it has raised $11.8 million through the placement of its shares with a group of private individual investors. New York-based Acclaim, which recently released its "NBA Jam" arcade title for consoles, announced last week that it had repaid a $5 million loan to its lender GMAC. The company said the proceeds from the new financing have been added to its working capital and will be used for general corporate purposes.
tags: Games | VC | Private Placement | Acclaim |

Game Developer Acclaim to Raise Funds in Private Offering

Authored by Mark Hefflinger on October 2, 2003 - 5:21am.
Glen Cove, N.Y. -- Video game developer and publisher Acclaim Entertainment announced on Thursday that it expects to shortly complete a financing through the sale of its convertible subordinated promissory notes, to a limited group of private investors. Acclaim did not say how much it intends to raise through the sale, but said the proceeds will be added to the company's working capital and used for general corporate purposes. New York-based Acclaim this week also announced the repayment of a $5 million loan from its lender GMAC.
tags: Funds | Game Developer | Offers | Acclaim |

Game Developer Acclaim Repays $5 Million Loan

Authored by Mark Hefflinger on October 1, 2003 - 5:31am.
Glen Cove, N.Y. -- Video game developer and publisher Acclaim Entertainment announced that on Sept. 26 it prepaid the $5 million outstanding balance of its loan from GMAC Commercial Finance, from the company's working capital. Separately, the company said on Wednesday that it has appointed Beth Doherty as its vice president of sales. In June, New York-based Acclaim saw the departure of co-founder and CEO Gregory Fischbach.
tags: Games | Loan | Acclaim | Repays |

Game Developer Acclaim Laying Off 35% of Administrative Staff

Authored by Mark Hefflinger on January 17, 2003 - 6:21am.
Glen Cove, N.Y. -- Video game publisher Acclaim Entertainment announced on Friday that it will lay off 35 percent of its global administrative staff, as part of a cost reduction plan in light of weak game sales. New York-based Acclaim said it will take a $4.5 million restructuring charge to account for the layoffs, which it expects will reduce its annual operating expenses by 35 percent. The company, which is responsible for games including "BMX XXX" and "Turok: Evolution," also announced the resignation of Acclaim North America president and COO Edmond Sanctis; the president and COO of Acclaim's International division, Rod Cousens, will assume the role of interim global president and COO. http://biz.yahoo.com/bw/030117/172233_1.html
tags: Games | Acclaim | Administrative Staff |