Holdings firm purchases rights to Acclaim name

Central Investment Holdings Llc has agreed to buy the Acclaim Entertainment name from the bankrupt publisher's trustee for USD 100,000, according to US website Newsday.

California-based developer Crave Entertainment has also agreed to purchase former Acclaim brands Dave Mirra Freestyle BMX and ATV Quad Power Racing 2 for a total of USD 120,000. Both deals will go through unless higher bids are made over the course of the next few weeks.

CIH has not revealed how it plans to use the Acclaim name, but a Howard Marks is cited as a contact on court documents. It's not yet known whether this is the same Howard Marks who held an executive role at Activision and is now CEO of software provider eMind.

When Acclaim filed for bankruptcy last September, the company owed approximately USD 18 million to GMAC Commercial Finance, its major creditor.

The trustee has since sold off the publisher's main office for USD 8.75 million, comic book character rights for USD 720,000 and the rights to four games which were never completed for USD 250,000. In addition, THQ paid USD 10.5 million for street racer Juiced following a bidding war with Take-Two.