After failing to find a buyer for its entire back catalogue, Atari will auction its IP piece by piece.
In January Atari filed for Chapter 11 bankruptcy protection, and since convened with about 180 potential buyers only to receive 15 unsatisfactory bids for its entire catalogue.
The Wall Street Journal reports that Atari will hold auctions over four days in July, and is seeking a minimum of US$22.2 million (AU$22.9 million) in total.
According to court documents, “The Debtors believe that this type of a targeted bidding process affords the Debtors the best opportunity to market the Assets and maximize the value thereof for the benefit of all stakeholders".
Minimum bids include US$3.5 million (AU$3.6 million) for the Rollercoaster Tycoon franchise, US$1.5 million (AU$1.5 million) for the Test Drive franchise, or US$250,000 (AU$258,325) for Total Annihilation.
Some of Atari’s assets will be sold outside of the auction due to their "minor value".