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Bankrupt Glen Cove, N.Y.-based video game maker seeks to sell title rights.
Knight Ridder/Tribune Business News, September, 2004
By Monty Phan, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Sep. 22--The estate of Acclaim Entertainment, which is liquidating after filing for Chapter 7 bankruptcy three weeks ago, has a tentative agreement to sell the publishing rights to the street-racing game Juiced to Manhattan-based Take-Two Interactive Software in a deal worth up to $10 million, according to court filings.
The money from the proposed deal will be used to pay off creditors. The former Glen Cove-based video game maker owes $23 million to its top creditor and primary lender, GMAC Commercial Finance, according to yesterday's filings, which were the first to shed light on the breakdown of Acclaim's debt.
Take-Two would pay $8.125 million for the rights...
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