Atari files for bankruptcy

One of the most iconic names in video games in the last 40 years has filed for bankruptcy. Video game maker Atari's United States operations sought bankruptcy protection to separate from its French parent company, The Huffington Post reported. The Huffington Post cited an Associated Press report that said Atari sought approval from the US Bankruptcy Court in the southern district of New York for $5.25-million debtor-in-possession financing from private investment firm Tenor Capital Management. Atari said the move was needed to secure the investments it needs for mobile and digital gaming. Atari turned 40 last year, and was considered a pioneer in video gaming, with classic games like "Pong" and "Centipede." Last year, it released "Pong World," its first official Pong game for Apple iPhones and iPads to mark the game's 40th anniversary. But it had since fallen on hard times and undergone several changes in ownership. France-based Infogrames Entertainment took a stake in Atari in 2000, then acquired the remaining shares in 2008 and changed its name to Atari S.A. — DVM, GMA News