government

EDC to hold ‘emergency’ 38 Studios meeting

BLOOMBERG FILE PHOTO/SCOTT EELLS
CURT SCHILLING, founder of 38 Studios LLC and a former Boston Red Sox pitcher, speaks during an interview in New York, U.S., on Monday, Feb. 13, 2012. 38 Studios, formerly Green Monster Games LLC, is an entertainment and intellectual property development company founded by Schilling and named for his jersey number.
Posted 5/15/12

PROVIDENCE – The R.I. Economic Development Corporation has scheduled an “emergency special meeting” of its board of directors to discuss the future of 38 Studios LLC, the video game company the state has backed with a $75 million loan guarantee.

An announcement of the meeting posted with secretary of state’s office late Tuesday afternoon said the board would gather to “address and consider an unexpected occurrence that requires immediate action to protect the public regarding the 38 Studios LLC financing.”

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.”

The meeting will be at 8:30 a.m. at the EDC offices at 315 Iron Horse Way, Suite 101, in Providence.

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