Latest in Gaming

Image credit:

Rhode Island explores ditching 38 Studios debt

MJ Guthrie
05.30.13
Share
Tweet
Share

Sponsored Links

To pay back or not to back, that is the question that Rhode Island is exploring after being saddled with $112.6 million in combined debt and interest when 38 Studios went kaput, taking Project Copernicus with it. RI governor Lincoln Chafee still believes that lenders should get their due according to his spokeswoman Christine Hunsinger, but the administration is gathering data to explore the cost of not paying back to get an understanding of "the ramifications of what that decision would be."

Currently the state is planning to pay investors back over the course of 10 years, with a $2.5 million payment the first year and subsequent installments of $12.5 million thereafter.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Google Home update leaves some speakers unusable

Google Home update leaves some speakers unusable

View
BYU researchers extend WiFi range by 200 feet with a software upgrade

BYU researchers extend WiFi range by 200 feet with a software upgrade

View
Apple TV+ adaptation of 'Foundation' will star Jared Harris and Lee Pace

Apple TV+ adaptation of 'Foundation' will star Jared Harris and Lee Pace

View
Google wants to be your guide to Champions League soccer

Google wants to be your guide to Champions League soccer

View
Scoot makes its new single-seat mopeds available in Los Angeles

Scoot makes its new single-seat mopeds available in Los Angeles

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr