Splitting of Properties
Financial problems continued to grow and Kassar's replacement, James J. Morgan, had less than a year to try to tackle his predecessor's problems before he too was gone. In July 1984, Warner sold the home computing and game console divisions of Atari to Jack Tramiel, the recently ousted founder of Atari competitor Commodore International, under the name Atari Corporation for $240 million in stocks under the new company. Warner retained the arcade division, continuing it under the name Atari Games and eventually selling it to Namco in 1985. Warner also sold the fledgling Ataritel to Mitsubishi.
Read more about this topic: Atari, Inc.
Famous quotes containing the words splitting of, splitting and/or properties:
“Verily, chemistry is not a splitting of hairs when you have got half a dozen raw Irishmen in the laboratory.”
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