September 11th, 2006On this day in different years

PSV Ratings Dead? Circumstances Mysterious...

Has PSVratings gone belly-up?

PSV, a media content rating service based upon a proprietary system, emerged in recent years as a would-be competitor to the ESRB, MPAA and other ratings formats. The company, however, appeared to enjoy little success, at least in regard to video games.

A source familiar with PSV told GP that the company had recently ceased operations in the wake of a fraud investigation by the Securities and Exchange Commission (SEC). This source also said that PSV employees did not receive their final paychecks when the company closed its doors without warning.

Indeed, the listed phone number for PSV is no longer in service, although the company's website is still up. In an e-mail to GamePolitics, CEO David Kinney confirmed that the company had shut down:

"PSVratings laid off all employees and suspended operations on May 30, 2006. We are fully cooperating with the SEC in their investigation. We are in the process of recapitalizing and I remain active in ensuring that we maintain our leadership position in the independent ratings industry."
Read more...Collapse )