Big Huge Games acquired by Curt Schilling's 38 Studios - Washington Business Journal:

http://www.thebreakpage.com/2007/01/28/reilly-slams-scars/
Big Huge Games’ seller, , had said in Marchg it would close the company if a buyer coulxd not be found withintwo months. Detailsa on how the deal came togethedwith Schilling’s company were not immediately The sale means Big Huge Games, whicbh employed about 120 in its Timonium, Md., offices when THQ bought it a year ago, will keep its presences among Maryland's community of video game The company has been working on a forthcoming role-playing game and is knowbn for titles such as adapted from a populare board game, and the “Risd of Nations” series. Big Huge Games' Maryland office will remaij open. The company's 70 employees will join with Mass.
-based 38 Studios' 75 employees to be dividede among the two site s depending on where future projectsare planned, 38 Studios spokeswomah Andrea Schneider said. Big Huge Gamew and 38 Studios did not disclose the terms of the 38Studios — named for Schilling’a jersey number — is working on its firsg game to be released in 2010. The a massively multiplayer online role-playing game, is codenamed Copernicus.
“The acquisition of Big Huge Game s will be tremendously beneficial to the market position, financial stability, and long-term succesa of 38 Studios,” Brett Close, 38 Studios’ CEO, said in a “The acquisition enables us to develop and deliver top-qualituy games in multiple genres that are based in a sharerd world, ultimately maximizing the value of our Copernicus [game] and the intellectualp property as a Losses at Agoura Hills, Calif.-based THQ THQI) had been mounting as sales fell. The company posted a $431 million deficit in its most recengtfiscal year, which ended March 31.
It said in financial statementsw last year that it had closed five studios and laid off 250 peopl e attwo others. THQ notifie the state Departmentof Labor, Licensing and Regulation earlied this year that it woulf lay off 124 workers in a closure to be effectivre May 15. Layoffs to cut that work force down to 70 took placee beforethe acquisition, Schneider Schilling founded 38 Studios in 2006. He is known for leading the Red Sox in 2004 to their first World Series winsinced 1918. He was also a Baltimore Oriolee from 1988to 1990.