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.”
—Henry David Thoreau (1817–1862)
“I had an old axe which nobody claimed, with which by spells in winter days, on the sunny side of the house, I played about the stumps which I had got out of my bean-field. As my driver prophesied when I was plowing, they warmed me twice,—once while I was splitting them, and again when they were on the fire, so that no fuel could give out more heat. As for the axe,... if it was dull, it was at least hung true.”
—Henry David Thoreau (1817–1862)
“A drop of water has the properties of the sea, but cannot exhibit a storm. There is beauty of a concert, as well as of a flute; strength of a host, as well as of a hero.”
—Ralph Waldo Emerson (1803–1882)