Video game publisher Acclaim Entertainment, which has been hampered by a lack of hit titles, filed for bankruptcy liquidation on Thursday after failing to line up new financing.

The move was not a surprise. Acclaim, one of the oldest brands in the industry, has been known as much for failures like "Turok: Evolution" and controversial titles like "BMX XXX" as it has for its successes in the highly competitive game industry.

Read more: CNet News.

Too bad.

They released quite a few good games (but that might be a long time ago)...

One bad thing in general about this, is that with fewer and fewer publishers around, the chances for new and innovative games being published is less and less.
Just look at all the crappy sequels that are being released, since the companies know that they'll make money that way, instead of taking a chance and doing something new.

I liked Shadowman even though I never finished it. Now let's all sit back & watch EA eat up what's left behind.