After posting a net loss of $5 million in a weak 3rd quarter, which resulted in having their credit cut off, European publishing giant Atari is seeking to sell off its five internal development studios: Reflections in England (Driv3r), Melbourne House in Australia (Transformers), Paradigm in Dallas (Terminator 3), Shiny Studios in California (The Matrix), and Eden in France (V-Rally).

Atari's CEO Bruno Bonnell said, "We have decided that we should refocus our creativity efforts on external studios rather than internal development. We will be looking to sell our studios, but that does not mean we're immediately putting a 'for sale' sign on them. They still have important projects to finish for us." Bonnell also confirmed there will be some job cuts as well explaining, "We have about 250 staff in the U.S and that is too many. There has to be some adjustment. There will be none in Europe though. They have been through that pain already."

[Via Next Generation]

This article was originally published on Joystiq.

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