Rumours suggest that job losses are to be followed by total closure of US publisher
Variety is reporting that troubled US publisher Brash will close its doors for good today.
The news follows the departure of top execs Thomas Tull, Larry Shapiro and Nicholas Longano from the firm last month, citing the disappointing quality of the publisher’s output as the reason.
In addition, a further 20 job losses were confirmed last week.
Variety states: “Several sources have confirmed for me that Brash Entertainment is ceasing operations as of tomorrow. I understand that the investors who had committed $400 million when Brash launched last year have pulled out, so Brash is simply out of cash.”
The future of its current projects, such as the recently announced movie tie-in Saw, is yet to be revealed.
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Comments
WTF!?
400 ****ing MILLION!? I wonder how much they burned through before the investors pulled the plug.
I can't even imagine that much money. I get to about $200,000 and pass out.
Re: WTF!?
That is an awful lot of money... SAW: The game? Hmm... Haven't they milked it enough, how many films are there? 5?
Re: Re: WTF!?
The terms Due Dilligence take on real meaning when it is quite obvious that this was a triumph of Optimism over Ability. It would be a great shame if investors were put off in the future from investing in our industry because of mistakes such as this. A sad day indeed.
Re: Re: Re: WTF!?
Doubt they burned up 400mill. even though they did burn money at a good rate - think the investors pulled out before that amount of money had been spent due to them not hitting performance milestones.
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