Updated August 29 at 7:42am

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DIGITAL MEDIA

38 Studios on 'standby' as EDC deliberates

Posted:

(Updated 12:40p.m.)

PROVIDENCE – 38 Studios LLC is on "standby" as the R.I. Economic Development Corporation deliberates the information from a closed door meeting on the company's financial situation.

The “emergency special meeting” of the EDC’s board of directors started at roughly 8:50 a.m. at the EDC offices at 315 Iron Horse Way , Suite 101, in Providence.

38 Studios founder and former Red Sox pitcher Curt Schilling was in attendance of the closed door meeting, but was not made available to the more than a dozen media personnel for questions.

38 Studios staff members were on "standby" in a separate room at the EDC offices for a better part of the morning while the board of directors deliberated on the company's presentation.

Schilling left EDC offices at 12:40 p.m. “My priority right now is to get back to my [company],” he told reporters.

State officials including Gov. Lincoln D. Chafee and EDC Executive Director Keith W. Stokes have been meeting with 38 Studios officials since the weekend to try to avoid what the governor described as the company’s potential “insolvency.”

Chafee said that his office and the EDC would make whatever information they could public after the meeting.

38 studios, r.i. economic development corporation, keith w. stokes, lincoln d. chafee, curt schilling, 38 studios llc, insolvency, video game, financing

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