Providence Local News

 

Auction held for 38 Studios intellectual property

Auction held for 38 Studios intellectual property

PROVIDENCE, R.I. (AP) — Bidders have made their final offers on the intellectual property of former Red Sox pitcher Curt Schilling's bankrupt video game company, but the winners have yet to be announced.

Heritage Global Partners auctioned off 38 Studios' assets on Wednesday. The property includes the unfinished game under development in Providence with the help of a $75 million loan guarantee from Rhode Island's economic development agency.

The auction house says the results will be reported once the sales process is completed. 38 Studios receiver Richard Land has said initial bids are being kept confidential.

38 Studios collapsed last year, and the state is responsible for some $90 million related to the deal. The Economic Development Corp. is suing Schilling and others, alleging they knew the company was on course to fail.

 

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