Vidgame publisher lays off 20 employees
Movie-based videogame publisher Brash Entertainment has laid off 20 employees and is in talks with studios about returning licenses as it struggles to find new financing.
It’s the latest round of problems for Brash, which saw co-founder and Legendary Pictures chairman Thomas Tull resign recently and several other top execs ankle.
Company confirmed the layoffs on Thursday. It’s not clear how many employees remain.
According to numerous sources, Brash has been cutting back significantly on production in the past few months. It has stopped paying some developers and is in talks with several studios from which it has licensed properties about either returning the rights or selling the games to new publishers.
At launch, Brash announced that it had raised $400 million in private equity funding. However, sources indicated it was able to access only a portion of that coin and that, amid the ongoing economic crisis, it is now running short on cash. It is believed to be searching for new funding or a buyer.
Company confirmed that only two games on its slate will still definitely be released: “Six Flags Fun Park” in December and “Saw” next year.
Other games in production at Brash, only some of which have been announced, include “Superman,” “Prison Break,” “Tale of Desperaux,” “Night at the Museum 2,” “Clash of the Titans” and “300.” It’s not yet clear what their fate will be.