Cube8 buys Freeloader business
Online games has "enormous potential"
Cube8, the mini-internet incubator, has bought the Freeloader online games business from Pure Entertainment for £600K in new shares. Pure Entertainment, now a cash shell, shut down the Freeloader games download site, following the collapse of the games advertising online earlier this year. In a statement Tim Dean-Smith, executive chairman of Cube8, said: "I think that the online gaming market has enormous potential, and we look forward to taking the Freeloader business forward, and will seek to add value through the skills and network of the Cube8 team". But in March Cube8 said it was holding off investing in Net ventures for six to 12 months, after announcing an operating loss of £4.9 million on revenue of £1.6 million in 2000. It obviously couldn't stop itself.