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More OnLive management moves: Perlman out, as investor Lauder settles for Chairman
As the OnLive storm continues to ride itself out, details of who the winners and losers are (mainly losers) keep washing up on the shore. Today's casualty seems to be CEO Steve Perlman himself, who -- just days after the firm reinventing itself -- is "departing to work on his myriad of other projects." In his place the former COO, Charlie Jablonski, is temporarily taking the reins, as well as continuing his role as head of operations in the new organization. Finally, completing this wave of announcements, is the news that chief investor, Gary lauder, will officially take the title of Chairman. So, as the new incarnation settles into its new structure, we'll just have to sit tight, waiting to see what the next chapter in the OnLive story is.
BT planning to write off 2.6 percent stake in troubled OnLive
BT thinks that it's "highly likely" it'll let its 2.6 percent stake in OnLive go to the wall. It told TechRadar that it was keeping a "close eye" on the gaming venture which is restructuring in the face of spiraling debt costs. The telecoms provider has promised that its customers will be able to access the service (for as long as it exists, we guess) and that the investment is a small enough figure that it won't be worrying too much about its balance sheet.
OnLive officially announces asset acquisition, notes that its newly formed company will keep OnLive name
Amid the rumors, sourced reports and statements, it was easy to lose track of the facts surrounding OnLive's recent restructuring efforts. No surprise then, that the newly formed outfit has issued a press release and FAQ (after the break) in hopes will clear things up. First and foremost, the firm reiterates that the streaming game service will continue operating uninterrupted, and that the "newly formed company" that acquired the firm's assets will continue to do business under the OnLive name. The announcement also mentions the Assignment for the Benefit of Creditors (ABC) process OnLive used to settle its debts, noting that "an affiliate" of Lauder Partners, a technology investment firm, was the new OnLive's first investor. Finally, the firm laments the necessity of laying off its staff, stating that "neither OnLive, Inc. shares nor OnLive staff could transfer under this type of transaction," confirming that nearly half of the previous staff had been offered positions at the new company, and optimistically projecting future hires culled from both previous and new employees. The new OnLive calls the asset acquisition "a heartbreaking transition for everyone involved," but looks optimistically to a future of "transforming the OnLive vision into reality." Check out OnLive's full, official word on the matter below.
OnLive hits reset after being dragged down by expensive servers, confirms service will continue
OnLive has finally issued an official statement after rumors of mass layoffs first leaked out earlier today, confirming that its assets have been acquired into a newly-formed company with what it claims is "substantial" financial backing. The big news for users is that the OnLive Game and Desktop services will remain operational and continue to be supported. The release also claims a "large percentage" of OnLive staff is being hired into the new company with plans to hire more over time, while PR informs us the leadership team remains intact. Check the words straight from the source after the break. We've heard from some of the people present for the meeting where the new plan was revealed today, confirming the company is going through a process known as Assignment for the Benefit of Creditors (ABC). A faster alternative to bankruptcy that doesn't involve the courts, it allows OnLive to deal with some of the issues it was facing, most notably an oversupply of servers for the number of users it had signed up. The ABC process allows OnLive to be unshackled from the expensive server contracts and bring in a new source of venture capital. Oh and that other major cost, the employees? Not all of the information is known yet, but beyond the loss of jobs, it turns out the stock they owned was in a company that no longer exists. We're hearing their benefits will end after August, however there are offers of contracts to answer questions about important topics like "where things are," in exchange for special form stock in the new venture. Update: Joystiq has more information from a former employee, who estimated the average number of peak concurrent OnLive users at around 1,800 or so, and the amount of retained staff in the range of 20 percent. One other tidbit? The source expects OnLive to go after recent Sony acquisition Gaikai for infringement of a game streaming patent, so stay tuned.
OnLive reportedly shutting down, new company forming in its wake (update: OnLive says 'of course not')
Well, here's a bit of a shocker. After a strong showing at E3 and partnerships with companies like OUYA, gaming service OnLive is reportedly closing down, with an entire staff layoff resulting. At a glance, this sure feels a lot like the similar rise and fall of InstantAction, which was attempting to pull off something similar with cloud-based gaming. Polygon is reporting the story as relayed to the site by game developer Brian Fargo. We've reached out to the company and received a non-comment comment, "We don't respond to rumors and have no comment." Our OnLive contact also used the opportunity to plug its Google TV tie-ins and few giveaways -- so, for the moment at least, things seem to be moving along as usual. Update: Joystiq has reached out for comment as well, getting a similar, yet decidedly more blunt response: "We don't respond to rumors, but of course not." Blunt response or no, we're sure this isn't the last we'll be hearing about this one. Update 2: We reached out to OnLive again for clarification on whether the denial pertained to both the shutdown and layoff rumors. The response reads thusly: "I have no comment on the news other than to say the OnLive service is not shutting down. I'm sorry I cannot be more specific." Update 3: Martyn Williams from IDG has reported there are employees leaving the OnLive offices with moving boxes.
PSP gets its own homebrew online gaming network, outweighs Sony's own efforts (video)
Sony made much ado of the PSP's position as one of the first online gaming consoles, but unless your idea of online play involves Skype calls, there hasn't been a lot to go on since 2004. Team PRO is addressing that deficit through Prometheus, a completely community-driven rival to PSN. The hack lets PSP games with support for ad hoc WiFi play go online by wrapping the normal local-only multiplayer in an emulator library that broadcasts to other Prometheus players. It requires a second-generation or newer PSP as well as a wireless router that can expose the PSP in DMZ mode, but there's a live who's-playing board and even an in-game chat mode to coordinate that round of Fat Princess as it happens. Of course, using a wholly separate gaming network outside of Sony's rubric involves a whole lot of warranty-voiding risk; if you're willing to live on the edge, though, Internet games of Metal Gear Solid: Peace Walker or Pro Evolution Soccer 2012 will let you put off that possible PlayStation Vita purchase for a little longer.
MLG tinkering with streaming fees during Winter Arena tourny
Sometimes being successful at certain bits comes with a cost, and that's exactly what's happening over at MLG HQ. According to Forbes, the Major League Gaming circuit has seen tremendous demand for its streaming services during tournaments, which up until now could be enjoyed in low-res without taking a hit on your wallet. However, that success is pushing the org to experiment with a different, pricier content model. During the upcoming Winter Arena tourny, those of you who want to watch the Mad Catz-sporting pros will have to pay 20 bucks or $15 if you're already rockin' a gold membership. While the move won't be permanent, it could indeed be a sign of things to come. Do you plan to shell over some cash or sit this round out on the bench? Let us know in the comments below.
Sony drops PS3 price to $250 in US, €250 in Europe
Sony just wrapped its Gamescom 2011 keynote with this juicy nugget: base PlayStation 3 models will run you just $250 in the US, €250 in Europe, and ¥24,980 in Japan. Announced at the same show two years ago with a $300 price tag, the base PS3 Slim model includes a 160GB hard drive. A lower price will provide a nice cushion for that $299 Call of Duty: Black Ops bundle, which just hit stores earlier this summer. Meanwhile, the 320GB model will see a $50 drop as well, with new pricing for both models kicking in immediately in the US and Europe, and August 18th in Japan. Sony also lifted the curtain on a €99 (about $140) budget PSP model, which adds a slick new design while dropping WiFi functionality. Because, really, who needs their handheld console to connect to the web? All that internet gaming stuff was so 2011.
OnLive goes OnBeta, wants you to help by playing games
Can we find some charitable souls amongst our readers? If you're the sort of person who'll give up his or her valuable time to a worthwhile cause that demands hours of daily gaming, far less showering and more meals based around the expansive Frito-Lay product line, OnLive will most certainly want to hear from you. Beta testing of the nascent game streaming service has just been opened up to the masses, and the quick and deadly among you will already be signing up via the read link below. Just to make sure we've conveyed this accurately -- there's a company out there that wants to stream free games to your TV, so tell us, why exactly are you still here reading? [Via Joystiq]
