Atari Inc. (1972–1984): changed "20% stack" to "20% stake"
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| In 1983, Ray Kassar was forced to leave Atari over an insider stock trading sale, and executives involved in the [[Nintendo Entertainment System|Famicom]] lost track of the negotiations, and the deal eventually died. With Atari's further financial problems and the Famicom's runaway success in Japan after its July 16, 1983 release date, [[Nintendo]] decided to go it alone. | In 1983, Ray Kassar was forced to leave Atari over an insider stock trading sale, and executives involved in the [[Nintendo Entertainment System|Famicom]] lost track of the negotiations, and the deal eventually died. With Atari's further financial problems and the Famicom's runaway success in Japan after its July 16, 1983 release date, [[Nintendo]] decided to go it alone. | ||
| - | Financial problems continued to mount and Ray's successor, [[James J. Morgan]], had less than a year in which to tackle his predecessor's problems, he began a massive restructuring of the company and worked with Warner Communications in May 1984 to create "NATCO" which stood for New Atari Company which would further lean the company facilities, personnel and spending and make the company profit. Unknown to James Morgan and the senior management of Atari, Warner had been in talks with Tramiel Technologies to buy Atari's Consumer electronics and Home Computer divisions. Negotiating up until close to midnight of July 1, 1984 Jack Tramiel purchased Atari. Warner sold the home computing and game console divisions of Atari to [[Jack Tramiel]] for $50 cash and $240 million in promisary notes and stocks, giving Warner a 20% stack in Atari Corporation <ref name="sale">{{Citation | + | Financial problems continued to mount and Ray's successor, [[James J. Morgan]], had less than a year in which to tackle his predecessor's problems, he began a massive restructuring of the company and worked with Warner Communications in May 1984 to create "NATCO" which stood for New Atari Company which would further lean the company facilities, personnel and spending and make the company profit. Unknown to James Morgan and the senior management of Atari, Warner had been in talks with Tramiel Technologies to buy Atari's Consumer electronics and Home Computer divisions. Negotiating up until close to midnight of July 1, 1984 Jack Tramiel purchased Atari. Warner sold the home computing and game console divisions of Atari to [[Jack Tramiel]] for $50 cash and $240 million in promisary notes and stocks, giving Warner a 20% stake in Atari Corporation <ref name="sale">{{Citation |
| | last = Sanger | | last = Sanger | ||
| | first = David E. | | first = David E. |