I’ve picked up a rumour that the founders of RealTime Worlds are looking at buying Project MyWorld, after the company went into administration earlier this week. [UPDATE: Johnny Minkley at GamesIndustry.biz beat me to the punch by...

GI.biz reports that Warner is the only bidder for the assets of bankrupt Midway Games. The offer on the table is $33 million. This might bring the sorry tale of Midway Games to an end, although with...

Reuters reports that video rental chain Blockbuster is at risk of filing for bankruptcy, and its shares plummeted 76% on the NYSE, leading to a suspension. The company has confirmed that it has appointed “lawyers and investment...

The administration of Zavvi is finally over. MCV reports that the last Zavvi stores on the High Street will shut next week. There have been some rescues: Five stores sold to Head Entertainment, a new venture from...

Midway has announced that it will seek Chapter 11 protection from its creditors, although this does not affect operations outside the US. Chapter 11 does not mean that the company has gone bust: it allows the company...

MCV reports that Zavvi has closed a further 17 stores, leaving only 31 stores still trading. A further 242 jobs were lost today. Added to the Job Loss Tracker.

Develop reports that German developer Crytek has acquired the business and assets of Free Radical from the administrator, saving 43 jobs. The fact that Free Radical owned the intellectual property to some of its games must have...