Atari files for bankruptcy

Atari, one of the biggest game companies of the world, has filed for bankruptcy in the US and is planning to sell off the company's logo and videogame titles, according to Fox News. The company itself is very likely to live on despite this, as the move is meant to sever Atari's ties with its French parent company. Atari plans to secure independent funding so that it can develop more games.

In a statement, Atari confirmed that it would "effectuate a sale of all, or substantially all, of (its) assets" including "one of the most widely recognized brand logos, which is familiar to 90 percent of Americans." It added, "The Chapter 11 process constitutes the most strategic option for Atari's U.S. operations.”

Also known as the guys who made Pong

Back in December, Atari had celebrated the 40th anniversary of the classic Pong. In celebration, the company had released Pong World for iOS.

While the basics of the game, where you're playing table tennis, are intact, Atari mixed things up with a new graphical style, along with new mechanics like paddle creatures, upgrades and powers. The game boasts of four different locations, each equipped with unique features like the ability to summon a wall of energy that will block your opponents ball, and hindering your opponent's vision, among others.

Here are some of the key features of the game:

• Personalise and upgrade five animated paddle creatures with unique power boosts and personalities – Shaggy, Chompers, Sir Bouncelot, Razzle and Gnop
• 4 unique levels with special power-ups: Jungle Juice, Fog of Faith, Winds of Change and Moon Beams.
• 3 play modes: Conquest, Survival and Two-Player Battle
• Put crazy spin moves on the ball to catch your opponent off-guard

These seem to be very rough times for game studios, as last month, THQ had filed for bankruptcy. The company said that investment firm Clearlake Capital Group has put in a $60 million "stalking horse" bid for its operations, which include four development studios and games currently in development. "The sale and filing are necessary next steps to complete THQ's transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQ's deep bench of talent," said Brian Farrell, the company's Chairman and CEO.

Currently, the company is attempting to auction off its IP to other companies to try and stay afloat. This includes games like the Darksider series, Homefront and the Red Faction series, among others. Throughout this, it will be interesting to see what happens to the company's licensed IP, such as the Warhammer 40K games created by Relic Entertainment.