Schilling Loan Shaved

September 8, 2010 -

Curt Schilling’s 38 Studios will have to make do with just a $51 million loan from Rhode Island’s Economic Development Corporation (EDC), as around one-third of the original loan amount of $75 million will be held aside for three years worth of repayments on the debt.

WPRI.com reported the news, citing a fact sheet issued by the EDC. After issuing the document, an EDC spokesperson indicated that the organization would no longer speak to reporters about the deal until it was finally closed.

While there was no mention of whether or not 38 Studios might eventually receive the $20 million or so being held aside, it was reported that, if approved, the deal would see 38 Studios receive $13 million right away, with another $38 million dispersed over the next 15 months, providing Schilling’s company meets certain goals and criteria.

Another “success fee” of between $15.3 and $18.8 million could be earned by 38 Studios, though no mention of terms and/or conditions were on the EDC fact sheet.

38 Studios also has until November 30th to find its new home, after which it must sign an enforceable 10-year lease.

The EDC loan helped lure Schilling and 38 Studios from their current Massachusetts home to neighboring Rhode Island and raised the ire of just about every politician in the Ocean State.


 
Forgot your password?
Username :
Password :

Poll

Which video game platform are you most thankful for?:

Shout box

You're not permitted to post shouts.
Andrew EisenThe story you just linked to? The story you asked if anyone had seen? Yes, THAT obnoxiousness. I've heard it parroted for nearly two years now.11/27/2014 - 7:57pm
ZippyDSMleeAndrew Eisen: That shes an ex con man?11/27/2014 - 7:54pm
Andrew EisenI've heard the same obnoxious horse poo for years. It's nothing new.11/27/2014 - 7:45pm
ZippyDSMleeAlso anyone see this? http://guardianlv.com/2014/11/anita-sarkeesian-unmasked-feminist-icon-or-con-artist/11/27/2014 - 7:28pm
ZippyDSMleeEvil within is a badly designed game.11/27/2014 - 7:28pm
Andrew EisenSure but you said "widens," hence my confusion. Looking into it, yep, there's a tweak to completely re-frame the image, adding more info at the top and bottom. You apparently need a fairly beefy rig to keep it running smooth when you do that though.11/27/2014 - 6:48pm
Matthew Wilsonthere is vertical fov, not just horizontal fov11/27/2014 - 6:38pm
Andrew EisenWell, you can widen it to 3:1 or even 10:1 but I don't know why you'd want to. From what I understand it's the missing visual info at the top and bottom that some object to, not that there isn't enough on either side.11/27/2014 - 6:36pm
Matthew WilsonI think it widenss the fov, so you get to see more.11/27/2014 - 6:31pm
Andrew EisenI don't see how as doing so would not add any visual information to the top or bottom of the screen.11/27/2014 - 6:04pm
Matthew Wilsonfrom what I read, getting rid of the black bars and stretching it out made for a better play experience.11/27/2014 - 5:59pm
Andrew EisenFrom what I hear, there's a ton of "look up and shoot at the guys above you" stuff in the game that the wider frame doesn't accommodate such actions well.11/27/2014 - 5:55pm
Andrew EisenHaving a game run in scope is not necessarily a bad thing but like any aspect ratio, you have to compose your shots correctly.11/27/2014 - 5:55pm
Neo_DrKefkaThe Evil Within was pretty bad and to make it worse the way the screen size made it hard for you to see even on a big screen it really hurt the game. Being Artistic is great but when you focus on art rather than what sells you run the risk of that happen11/27/2014 - 5:33pm
Matthew WilsonI kinda hope this is not true. http://www.nintendolife.com/news/2014/11/nintendo_might_not_be_making_more_gamecube_controller_adapters_at_the_moment11/27/2014 - 1:34pm
Matthew WilsonI saw that. I wish people would stop preording, but sadly that will never happen.11/27/2014 - 1:26pm
Papa MidnightUbisoft has cancelled the Season Pass for Assassin's Creed: Unity (http://www.reddit.com/r/pcmasterrace/comments/2ni2ac/ubisoft_cancel_season_pass_for_ac_unity/)11/27/2014 - 1:08pm
NeenekoBut now I can use the christmas discount justification too,11/27/2014 - 11:46am
NeenekoI am also sorely temped by Civ:BE, mostly because I have a demo coming up and I know my productivity will tank.11/27/2014 - 11:45am
MaskedPixelanteThe Evil Within is only a month old, right? And it's already 66% off...11/27/2014 - 10:29am
 

Be Heard - Contact Your Politician