Passage: Atari, Inc. had been purchased by Warner Communications in 1976 for $28 million, and had seen its net worth grow to $2 billion by 1982. By this time, the company accounted for 80% of the video gaming market; and was responsible for over half of its parent company's revenues, earning some 65<unk>70% of their operating profits. By the last quarter of 1982, its growth in the following year was expected to be in the region of 50%. However, on December 7, 1982, the company reported that its earnings had only increased by 10<unk>15%, rather than the predicted figure. The next day saw Warner Communications' share prices fall by a third, and the quarter ended with Warner's profits falling by 56%.
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