Some good news: the Los Angeles Times is reporting that Atari Inc. is filing for Chapter 11 bankruptcy protection, which could see the retro computer game company live on.

The filing will help free the company from French parent Atari SA, formerly Infogrames. Currently Atari Inc owes a huge chunk of cash to a company called BlueBay Asset Management; bankruptcy protection could see the brand live on, at least for a while. If it can manage that, things could turn around: the newspaper cites a "knowledgeable person", who claims that those involved hope to develop Atari Inc. into a "modest" business based on "digital and mobile platforms". More Atari iPhone games! [LA Times via Polygon via Verge]

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