Money-strapped studio sells IP to new firm formed from the same board
Bankrupt US developer Cheyenne Mountain Entertainment is selling its intellectual property to a new start-up studio formed by Cheyenne shareholders.
New studio Fresh Start acquired shooter game Stargate: Resistance, apparently for $100,000, and has reserved $200,000 to maintain the online title.
Cheyenne is a studio inundated with money troubles. The firm owes staff some $1.1 million in wages, $3 million in taxes and $2 million to creditors.
The group, which in February declared itself bankrupt, is subject of a $10 million lawsuit.