VP says Gametap's troubles are 'greatly exaggerated'

In an interview with GameDaily, GameTap's VP of Content, Rick Sanchez, explains that rumors of the gaming-buffet's death are "greatly exaggerated." Although he avoids divulging whether GameTap is profitable, he does say that it is hitting parent company Turner Broadcasting's P&L (profits and losses) figures, so apparently it's still keeping daddy happy.

Although rumors of GameTap's demise have pretty much been present since the service launched -- something even Sanchez jokes about -- things went into overdrive after the company laid off its all-star editorial team. GameDaily reports it heard rumors in the wake of the firings that the service would remain online only as a shell until December and then be buried. Sanchez "categorically denies" any of that, pointing to Grimm and more announcements expected in the future as proof of the service's growth.