It has come to light that Bethesda parent company ZeniMax has borrowed $105 million in order to purchase id Software, through ”convertible notes and promissory notes”.
It’s unclear if that sum of monies was the total sale price for the veteran development studio. In 2007 the company raised $300 million in private equity funding for a mystery MMO.
These financial goings on have only become public knowledge because of filings with the Security and Exchange Commission. ZeniMax is a private company and so doesn’t need to air it’s dirty laundry like public entities.
Todd Hollenshead, former CEO and current president of id Software, has been added to the list of ZeniMax board of directors revealed the SEC red tape. The lenders of this $105 million were not identified, and ZeniMax have thus far kept quiet on the matter.
One thing’s for sure: ZeniMax know how to throw a million dollar bake sale.
Source: GameSpot
