GAMING COMPANIES ABOUT TO FALL DOWN, GO BOOM. EXCEPT GLITCHLESS. [Author: Lum the Mad]

Interplay is in negotiations to sell. According to the UK “Computer and Video Games” site, the buyer is Pacific Century CyberWorks, a huge telecom company based in Hong Kong, chiefly known in the gaming industry for an earlier takeover attempt of Activision. Interplay’s UK officials denied the report, but a press release on Interplay’s own site admits that negotiations for a buyout is taking place.

In case that wasn’t enough good news for one day, The Standard, a news site that tracks the perils of the dot-com economy, is reporting that Eidos is issuing new shares below market value in an attempt to raise operating capital.

At the end of December, Eidos had about $11 million cash in hand and had used up roughly half of an existing $70 million overdraft. On Tuesday the company acknowledged that the situation has become so severe that it is “in the late stages of arranging an equity issue for cash at a deep discount to the share price prevailing at the close of business on 25 May 2001.”

If Angelina Jolie acting in a movie based on your flagship product doesn’t save your company you’re probably beyond help. Then again, if John Romero burned through all your operating funds you’re probably immune to help.

All is not lost, though. Glitchless is supposed to announce… something by Friday. The Dawn beta? Race War Kingdoms 2: Jews And Arabs? More screenshots originally seen in Dragon magazine? Blueprints to a fully armed and operational battle station? You know, at this point even Eidos and Interplay want to know.