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.
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.
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.
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.
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.
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.
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.
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.
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something tells me this story gets huge by end of day.
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.
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.
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.
There was a reason for that. Also, N4G doesn't make up the entire gaming community you know.
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.
Blow me.