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Atari borrows $10 mil, agony prolonged

atari panhandlerWho even knows what Atari is these days? In name, it's the industry's aging celebrity, revered in memory as an icon, but presently transformed, made grotesque by a series of desperate facelifts. It's a facade now, a listless publishing subsidiary of Infogrames.

The latest stirring, following the recent board makeover, is a small business transaction -- a $10 million loan from Infogrames shareholder Bluebay Asset Management. The credit won't be enough to get Atari through the costly holiday season, but it's a start. Further resources are currently be sought on the corner of 38th and 5th.

This article was originally published on Joystiq.