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Submitted by Sadie2100 744d ago | news

Breaking: OnLive confirms it will not be closing down [updated]

Rumors are swirling around that cloud-gaming company/platform OnLive is closing its doors. But OnLive says otherwise. (Industry, OnLive)

Alternative Sources
Sadie2100  +   744d ago
Disgruntled employee?
roblef  +   744d ago
But it doesn't confirm it won't be laying off tons of staff. It's misdirection.
Dlacy13g  +   744d ago
total misdirection. It sounds like the company actually has been bought up or possibly sold off quietly. Often in those situations the new company lets go of what they deem dead weight and/or redundant staff that they already have.

something tells me this story gets huge by end of day.
DarkTower805  +   744d ago
Someone could have bought them just for the patents they own and already established infrastructure. So it's still possible everyone is getting laid off. I hope not though.
#2.1.1 (Edited 744d ago ) | Agree(1) | Disagree(1) | Report
If they are closing I am sure someone will buy them since they are already a working service.
deantak  +   744d ago
hmm. we should get a better picture soon. they'll have to address larger questions
R_aVe_N  +   744d ago
I think they are being bought out and just haven't announced who is buying them out.
Caligula  +   744d ago
Remember 38 Studios. We got bad news first, problem-covering news second, then an all-out closure.

I am worried about the potential collateral damage if they do shut down. Bigger companies will be fine, but companies like Monkey Paw won't be as lucky.
Soldierone  +   744d ago
Based on the original source, the company isn't "shutting down" its "becoming something else." Like RAVEN said above, I think they are being bought out.

Another "entity" so they are becoming someone else property. If its going to Xbox or PS3, then that explains why certain titles need to be removed.
crazytown99  +   744d ago
They have an agreement with Ouya too, right?
cgoodno  +   744d ago
Regardless of what happens at the end of the day, I hope no one loses their job.
Sadie2100  +   744d ago
Agreed, but it sounds like that's happening now from the article's update. :(
JBSleek  +   744d ago
Update: Joystiq has reached out for comment as well, getting a similar, yet decidedly more blunt response: "We don't respond to rumors, but of course not." Blunt response or no, we're sure this isn't the last we'll be hearing about this one.
Lifeequals42  +   744d ago
Was never a fan of their business model. Don't enjoy paying for an extended rental or otherwise not owning what you buy.
Dlacy13g  +   744d ago
Update: Kotaku is now hearing from "a source inside OnLive" that there in fact was a meeting this morning where CEO Steve Perlman told the staff that the company was filing for bankruptcy, and that no one would be employed by the current OnLive going forward. We're still researching this story, and will provide more information when we get it.

So Onlive may be filing for Bankruptcy as a protective move but might re-emerge as a new different company? doesn't make sense unless they sold off certain assets ahead of bankruptcy and the new company will take on some employees. Things still not adding up.
Roper316  +   744d ago
Kotaku also said FF VS XIII was cancelled and we know how that turned out, Do you really believe anything you read at Kotaku? Really?
Dlacy13g  +   744d ago
In this instance yes, given other sites are hearing similar odd rumblings at Onlive. And now it appears its not actual Bankruptcy but rather like a restructuring filing similar to bankruptcy but will allow the company to reorganize itself.
Lol_Lmao  +   744d ago
You guys have only yourself to blame for this. You didn't support it.
mushroomwig  +   744d ago
'You didn't support it.'

There was a reason for that. Also, N4G doesn't make up the entire gaming community you know.
ArronC07  +   744d ago
Good, if it goes bankrupt I'm pleased. The sooner the false "cloud/digital only gaming is the future" meme is laid to rest the better.
ChunkyLover53  +   744d ago
They denied closing, but its been reported that they did lay everyone off, which is terrible.

Cloud based gaming just hasn't taken off, I don't know anyone who has OnLive, but I hate to see people losing their jobs, even if its a job that I don't really support. Will be interesting to see how this unfolds.
xyxzor  +   744d ago
Well now we know why Sony didn't go after them. That would have been bad news for them, if this ends up being true.
xyxzor  +   744d ago
@Disagrees.

Blow me.
#12.1 (Edited 744d ago ) | Agree(0) | Disagree(4) | Report | Reply
tachy0n  +   744d ago
i got the feeling microsoft will acquire Onlive to compete with gaikai
#13 (Edited 744d ago ) | Agree(0) | Disagree(0) | Report | Reply

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