The change took effect on the first of July, and follows a number of other restructuring moves by Titus – most notably the re-negotiation of its bond financing last month.
Titus has also reached an agreement with the creditors of Virgin Interactive which will see the company’s debts being spread out over the course of 60 monthly payments. This arrangement will, it’s assumed, enable the company to proceed with the release of new titles.
Avalon, the newly renamed distribution division, will now be distributing all of Titus’ titles in Europe, including Baldurs Gate Dark Alliance 2, Barbarian, Fallout Brotherhood of Steel, Hunter, Robocop and the long-delayed Galleon – all of which are due for release by the end of the year.
This is an ignominious end for the Virgin Interactive name – the publisher was once seen as a major rival to Electronic Arts, and was responsible for franchises such as Command & Conquer and the Capcom titles in the west.
Source: Gamesindustry.biz
