Investments

Acclaim On The Edge

Bank Of America Investment A powerhouse back in the days of Turok and Extreme-G, today Acclaim Entertainment has released some rather gloomy new figures regarding it's yearly business.

They reported a loss of $56.4 million for its 2004 fiscal year, with revenues down $67.4 million from the previous year. Acclaim has also seeked loans and sold off many non-essential properties and busines ventures to help consolidate it's financial troubles, but it's still looking bleak.

Since then, the company has borrowed $5 million in loans from General Motor's investment-banking arm, but the loan in question expires in early August.

Acclaim has stated it's currently in negotiations to borrow more money from an undisclosed party, but if said transaction doesn't pan out, Acclaim is looking to file for bankruptcy protection.

Some analysts however have said Acclaim has a potentially profitable lineup of games for the rest of the year, unfortunately none of them are schedualed for the GameCube or GBA.

We'll have more updates about the status of Acclaim as it arrives.

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