Cheyenne Mountain Entertainment Enters Receivership

#1WyntarvoxPosted 3/23/2010 8:00:35 PM

examiner.com has reported that Cheyenne Mountain Entertainment, Inc. (CME), and its subsidiary Cheyenne Mountain Games, Inc. (CMG), the company behind Stargate Worlds (SGW), has been appointed a receiver by an Arizona court. Due to recent disputes over the control of CME, Edward Burr has been appointed to oversee the management of CME and CMG.

The dispute over control involved Gary Whiting supposedly filing CME for bankruptcy without the knowledge of other officers or employees of the company and his forced removal as Chairman of CME and as CEO of CMG. Tim Jenson, president and CEO of CME, has stated in an interview prior to CME entering receivership that with a receiver in place it would be clear who is in charge of CME and the corporate governance of CME would improve. He hopes that CME will be able to recover from its recent troubles to eventually complete development of and release SGW, though admits that he can't guarantee this will be the outcome.

Jenson has also confirmed rumours that CME staff have been laid off, but avoided committing to actual numbers. Some rumours suggest anywhere from 70% to almost all of CME's staff having been let go.

#2marcuspoopPosted 4/3/2010 8:45:09 PM
oh no!
#3Jshaw71Posted 4/12/2010 1:06:36 PM
that's sad... seems like the stargate games just can't pull enough interest to keep them afloat... that's just unfair...
#4pyber80Posted 4/13/2010 2:16:13 AM
Well in all fairness it wasn't really a lack of interest that caused this. Rather it was the economic trouble of the last year and a half, which most strongly affected the US, where CME is based. It turned out it was just not a good time for a brand new company to try and complete such a large scale project. From what I understand they still haven't actually canceled it, but barring a large infusion of cash from a new venture capital source (or sources), or of course if SGR does decently well enough to turn a profit for CME/Firesky, I'm not holding my breath for an actual release.

If CME/Firesky can't get SGW out the door, I'd hope that they could sell the obviously almost-completed project to a company with the manpower and cash to finish it off and launch it. Just please Lord, not Blizzard/Activision, heh.



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**Officially facepalmed by Back Alley Brawler - March 2, 2010**