After laying off the majority of its staff, cloud gaming service OnLive announces it has been...

|By:, SA News Editor

After laying off the majority of its staff, cloud gaming service OnLive announces it has been sold to investment firm Lauder Partners in a deal that will wipe out existing equity (and perhaps trigger lawsuits). It's a major blow for a service many saw as a threat to Microsoft, Sony, and Nintendo's consoles, due to its ability to stream games to a variety of platforms. OnLive has struggled with high operating costs and competition from the Steam distribution service, which offers more titles. (Sony/Gaikai)