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Technology Stocks : GTIS - Will it be a Phoenix or not ? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Gizzo who wrote (1394)	1/17/1998 4:51:00 PM
From: Coy Lynn Gullett	Respond to of 2319

Apogee Software/3D Realms yesterday found its forthcoming Max Payne title in the midst of dispute as the developer shifts from GT Interactive [GTIS] to the new Gathering of Developers (g.o.d.), a publishing venture founded by former ION Storm exec Mike Wilson. Apogee/3D Realms' first title for g.o.d will be Max Payne, a "cop drama game" set for an early '99 release, according to President Scott Miller. But GT CEO Ron Chaimowitz counters that his company has the first option to pick up Max Payne and no decision on that option has been made. Miller was not immediately available to comment on Chaimowitz's claim. Apogee/3D Realms has been a key developer for GT, particularly for its Duke Nukem titles. It's had a good relationship with GT and Duke will stay with that company, as will Prey, Miller says. Another developer which has worked for GT, Epic MegaGames, is also set to join g.o.d. But GT has deals which will provide it with Duke Nukem sequels from Apogee and Unreal titles from Epic through 2001, Chaimowitz says. Also, GT can minimize the loss of Apogee and Epic by continuing its focus on internally developed products, Chaimowitz and analysts agree. Chaimowitz questions g.o.d.'s ability to compete as a newcomer to an industry already experiencing consolidation. Wilson is confident he can secure the $40m he is looking for to capitalize the company. And while Apogee is taking a risk by joining the yet-unfinanced g.o.d., "no risk, no reward," Miller adds. Wilson has said g.o.d. will offer developers in its stable "more than twice" the industry average of 20%-25% sales. In addition to Apogee and Epic, g.o.d. will also announce that it signed Ritual Entertainment, Terminal Reality and Pop Top Software. g.o.d. intends to publish four titles this year and seven next year. g.o.d. will also announce board members that will include Apogee's Miller, Ritual CEO Harry Miller, former GT sales and marketing exec Allan Blum and Strategic Marketing Partners President Bill Mitschrich. SMP is the sales force which represents Eidos Interactive and LucasArts. (Apogee, Scott Miller, 972/271-1765; GT Interactive, Ron Chaimowitz, 212/726-6500) mmwire.com Coy