GTE Interactive Media, based in Carlsbad, plans to close its doors as of March 14. Formed in 1990, the telco division has developed or distributed products for platforms including Windows and Macintosh CD-ROM, Sega and Nintendo. The company currently has two titles on the market that are selling well, “Time Lapse” and “Titanic.”
“GTE has made a strategic decision that it does not need to be a primary participant in the creation and management of content,” said Richard Scott, VP and general manager of new ventures for GTE in a statement.
GTE Interactive Media’s 85 employees will remain on the payroll through March 14, and have been offered severance packages, said a company spokesman.