February 23, 1998: JTS Sells Atari to Hasbro
1998 – After a merger with JTS (Jugi Tandon Storage) in 1996, Atari couldn’t keep afloat. Their new Jaguar gaming system was not selling and losses were mounting. Therefore, JTS sold all Atari intellectual properties to Hasbro Interactive for $5 million.
The only item not sold was the Atari name, for that was owned by THQ.
Hasbro held the rights until 2001 when they sold Hasbro Interactive (and all assets) to Infogrames. Hasbro bought back Atari in 2005 for $65 million. This included games like Dungeons and Dragons, Monopoly, Scrabble, Battleship, the Game of Life, Clue, Risk, Candyland and many other games.
JTS eventually went bankrupt.
Wikazine – Full show notes for February 23
- Texas Instruments recalls the TI-99/4a for a short in the system
- Comcast OnDemand is launched