Precedence Entertainment President Paul Brown III issued a statement describing the company's plans for winding up its affairs (see 'Precedence Loses Last License').  In order to liquidate its assets, the company is holding a liquidation sale running until the close of business April 12.  All in-stock merchandise will be sold at 60% off, customer pays freight, no credit terms, to distributors, retailers, and the general public.  The inventory includes finished CCG product as well as singles and sets. 

 

The company is also selling various intellectual property rights.  They include the game designs for the Babylon 5, Wheel of Time, Tomb Raider, and Terminator CCGs.  These rights do not include the licenses for the movie, TV, or literary properties (those have to be negotiated separately); they only include the game systems.  Precedence is also selling the completed Star Legions CMG game system, which the statement says is ready to be manufactured.  

 

In the statement, Brown took full responsibility for the closing of the company.  He said, 'As President of the company it was my responsibility to make things work and my decisions that resulted in this outcome.'