Video Game Talk The Place to talk about and trade Video & PC Games

IGN $140 million in debt

Old 11-27-01, 10:54 PM
  #1  
Banned
Thread Starter
 
Join Date: Dec 2000
Location: So Cal
Posts: 868
IGN $140 million in debt

Looks like IGN is moments away from becoming another dead gaming site. Anyone else hear this? I give them 3 months....
Mike_AA is offline  
Old 11-27-01, 11:02 PM
  #2  
Video Game Talk Editor
 
Flay's Avatar
 
Join Date: Jul 1999
Location: Westchester, Los Angeles
Posts: 4,097
You have an article to back it up?
Flay is offline  
Old 11-27-01, 11:15 PM
  #3  
DVD Talk Limited Edition
 
Join Date: Oct 1999
Location: A suburbČ of Miami
Posts: 5,943
If so, that's insane. What do they spend their money on? Don't all the writers drive beaters? Maybe it's their bandwidth from encoding entire games into quicktime files.

Last edited by Aghama; 11-27-01 at 11:32 PM.
Aghama is offline  
Old 11-27-01, 11:35 PM
  #4  
DVD Talk Ultimate Edition
 
lordzeppelin's Avatar
 
Join Date: Jan 2001
Location: Pittsburgh, PA GO PENS!
Posts: 4,946
Well, screw 'em. They have gone consistently downhill the last 2 years (maybe less) anyways. What I wouldn't give to have GameFan back...
lordzeppelin is offline  
Old 11-27-01, 11:57 PM
  #5  
DVD Talk Platinum Edition
 
Join Date: Apr 2001
Posts: 3,754
That figure can't be right! How does a place like that even get a $140 million line of credit....????
ClarkKentKY is offline  
Old 11-28-01, 12:00 AM
  #6  
DVD Talk Hall of Fame
 
Join Date: Dec 2000
Location: North Mankato, MN
Posts: 7,739
no poo, how the hell can a website be 140 million deep?
SnoopDogg is offline  
Old 11-28-01, 12:02 AM
  #7  
Video Game Talk Editor
 
Flay's Avatar
 
Join Date: Jul 1999
Location: Westchester, Los Angeles
Posts: 4,097
I think Mike is full of it. He hasn't posted any evidence to back it up.
Flay is offline  
Old 11-28-01, 12:03 AM
  #8  
Banned
 
Join Date: Feb 2001
Location: Southern California
Posts: 4,049
Where's the link???
evenflow is offline  
Old 11-28-01, 12:05 AM
  #9  
DVD Talk Platinum Edition
 
Join Date: Mar 2001
Location: MD
Posts: 3,137
holy!! Thats a lot! Too bad though, even though IGN hasn't been as good as it used to be, its still one of the major gaming site networks out there. In fact, its the only network of sites that has different sites devoted to each console which is sorta cool. They have a big database of reviews, pictures, and movies too that I check out occasionally when I come across a game I've never heard of, it would suck if they went offline and were gone.
Outlaw is offline  
Old 11-28-01, 12:08 AM
  #10  
DVD Talk Platinum Edition
 
Join Date: Apr 2001
Posts: 3,754
OKay, I'm going to say 140 million is IMPOSSIBLE.. This is basically an online magazine... they wouldn't be able to reach 14 million of debt before they had their doors forcefully shut, let 140 million.

Chances are his source is one of the 12 year old's on the IGN message board, and he's just mistaking it as fact.... (i could be wrong though...)
ClarkKentKY is offline  
Old 11-28-01, 12:14 AM
  #11  
Needs to contact an admin about multiple accounts
 
Join Date: Dec 2000
Posts: 1,392
140 million isn't impossible guys. Just think of how many PS2's they bought..... 140million/$300 and how many games they bought 140million/$50 then that about sounds right.
IC_Freeze is offline  
Old 11-28-01, 09:01 AM
  #12  
DVD Talk Platinum Edition
 
Join Date: Jan 2001
Location: Houston, Tx
Posts: 3,007
It's probably the cost of adding all those ridiculous pop-ups and flash ads!! They've gone downhill ever since they started their "Insider" subscription crap.
SmackDaddy is offline  
Old 11-28-01, 09:43 AM
  #13  
Moderator
 
Groucho's Avatar
 
Join Date: Mar 2000
Location: Salt Lake City, Utah
Posts: 70,839
I agree...$140 million is a bit steep...but who knows? In some of their articles there are discussions of lavish "offsite meetings." I have a feeling that these guys overspent their investor's money big time.
Groucho is offline  
Old 11-28-01, 09:50 AM
  #14  
DVD Talk Limited Edition
 
Join Date: Oct 1999
Location: A suburbČ of Miami
Posts: 5,943
Originally posted by SmackDaddy
It's probably the cost of adding all those ridiculous pop-ups and flash ads!!
Eh?

Is this thread just going to become another tired bash IGN thread?
Aghama is offline  
Old 11-28-01, 11:47 AM
  #15  
DVD Talk Platinum Edition
 
Join Date: Jul 1999
Location: NY, NY
Posts: 3,100
Originally posted by IC_Freeze
140 million isn't impossible guys. Just think of how many PS2's they bought..... 140million/$300 and how many games they bought 140million/$50 then that about sounds right.
Umm... They don't buy those. They are supplied for free by the companies. Especially when you are unwilling to be negative the way IGN is.
Yancey is offline  
Old 11-28-01, 11:52 AM
  #16  
DVD Talk Platinum Edition
 
Join Date: Jan 2001
Location: Houston, Tx
Posts: 3,007
Originally posted by Aghama

Eh?

Is this thread just going to become another tired bash IGN thread?

How is this bashing? Simply stating a fact that they have a ridiculous amount of pop-up advertising. I still enjoy some of the content on their site, but the ads that pop-up in the middle of an article is downright annoying.

With the sheer amount of advertising on that site makes you wonder where the money is going.
SmackDaddy is offline  
Old 11-28-01, 12:27 PM
  #17  
DVD Talk Gold Edition
 
Join Date: Feb 2001
Location: New York, NY
Posts: 2,208
Originally posted by Yancey


Umm... They don't buy those. They are supplied for free by the companies. Especially when you are unwilling to be negative the way IGN is.
I wouldn't say they're unwilling to be negative. They try to focus on the high points of games, but you can tell from the reviews if the game is good or not, even though they don't flat out say "it sucks".
ScandalUMD is offline  
Old 11-28-01, 12:41 PM
  #18  
DVD Talk Limited Edition
 
Join Date: Oct 1999
Location: A suburbČ of Miami
Posts: 5,943
Originally posted by SmackDaddy

How is this bashing? Simply stating a fact that they have a ridiculous amount of pop-up advertising. I still enjoy some of the content on their site, but the ads that pop-up in the middle of an article is downright annoying.

With the sheer amount of advertising on that site makes you wonder where the money is going.
Sorry, I wasn't directly addressing you with that second line. Just making a general comment of where I hoped this thread wouldn't lead.
Aghama is offline  
Old 11-28-01, 12:49 PM
  #19  
DVD Talk Hero
 
Join Date: Feb 2000
Location: Rosemount, MN
Posts: 31,688
Until there's some proof, is this even worth talking about?

Here you go: DVDTalk is $200 million in debt. Discuss.
Draven is offline  
Old 11-28-01, 01:07 PM
  #20  
DVD Talk Ultimate Edition
 
Join Date: Sep 1999
Location: Rochester, NY USA
Posts: 4,956
Originally posted by draven-x
Here you go: DVDTalk is $200 million in debt. Discuss.
oh ****! where did gkleinman spend it all?
mmconhea is offline  
Old 11-28-01, 01:31 PM
  #21  
DVD Talk Platinum Edition
 
Join Date: Apr 2001
Posts: 3,754
Originally posted by mmconhea


oh ****! where did gkleinman spend it all?
the otter farm.
ClarkKentKY is offline  
Old 11-28-01, 02:33 PM
  #22  
Banned
Thread Starter
 
Join Date: Dec 2000
Location: So Cal
Posts: 868
Originally posted by Flay
I think Mike is full of it. He hasn't posted any evidence to back it up.
I appologize to all...I do have a life outside this board and am sorry that I didn't report back to this post every 20 minutes.

Anyways, no this isn't from the IGN boards, no I don't have evidence....but I have a very very reliable source who has a site there telling me this....think what you want....and look around, you're bound to find IGN ads on their site begging you to pay or else they will shut down.

And when I say IGN, I believe that includes the Snowball network (meaning they are actually $140 million in debt)
Mike_AA is offline  
Old 11-28-01, 03:16 PM
  #23  
DVD Talk Legend
 
Join Date: Jun 2000
Location: NYC
Posts: 17,018
Secret inside sources don't equal proof. This is just a rumor until I see a link (and not one to your friend's website, or whatever). Not flaming you, just telling you how it is.
Breakfast with Girls is offline  
Old 11-28-01, 03:19 PM
  #24  
DVD Talk Platinum Edition
 
Join Date: May 2000
Location: Nestled amidst Angeleno faults.
Posts: 3,346
Originally posted by Mike_AA
I appologize to all...I do have a life outside this board and am sorry that I didn't report back to this post every 20 minutes.

Anyways, no this isn't from the IGN boards, no I don't have evidence....but I have a very very reliable source who has a site there telling me this....think what you want....and look around, you're bound to find IGN ads on their site begging you to pay or else they will shut down.

And when I say IGN, I believe that includes the Snowball network (meaning they are actually $140 million in debt)
IGN is owned by Snowball. Way back in January, Snowball announced they only had $32 million cash which was enough for them to survive till 2002 (right around the corner.) Nasdaq has been threatning Snowball with delisting for the past year, as Snowball looked for ways to generate more funding, hence IGN's Insider section. Financial analysts have said that if Snowball gets desperate, it'll have to start shedding the websites that are in the red. IGN would be one of the first to go.

I tried to look for links but keep in mind, with the number of dotcoms closing every week, Snowball's finances is not that big of a deal. Do a search under "Snowball financial trouble" and you'll find bits and pieces of news although nothing that states they are $140 million in the red. Keep in mind that the figure is not unlikely, after all $140 million in the red is nothing compared to the debts of some of the dotcom giants that have fallen this year.

If I find a good link in the near future, I'll post it.
MonkeyG is offline  
Old 11-28-01, 05:10 PM
  #25  
Senior Member
 
Join Date: Jan 2000
Location: The chair at the top of the stairs..
Posts: 855
only thing i can find:

In filing its yearly report last week, the company said it had about $32 million in cash, cash equivalents and short-term investments as of December 31, 2000. The report indicates Snowball may need to seek additional financing and won't be profitable this year, but they say they've got enough cash to see 2002. The company's market cap is sitting at about $10.6 million and Snowball will probably receive a Nasdaq delisting notice in the near future with the stock hovering around $0.30.

There's not much in it for About if Snowball's seeking a buyer. UGO is desperately shifting gears towards providing hosting solutions and doesn't seem intent on expanding its network. Even the hosting game can be treacherous. UGO has shown up in a couple of bankruptcy filings over the past two weeks as a creditor. Cash upfront, that's the only way to do business and that's exactly why prostitution is the world's oldest profession.
PhYbEr is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.