What would you do if you were in charge of a struggling publisher?

[Joelcool7]

So over the last generation we have seen publisher after publisher bite the dust while others manage to hang in there and survive beyond all expectations. We have seen industry greats like Acclaim, Midway and older examples like Accolade all fail going down in flames, other publishers like Sega, Atari, Majesco and Interplay all were on the verge of bankruptcy and made miraculous recoveries or remain alive.

So the question is if you were CEO of a major game publisher that was going down fast what would you do? I am not asking you to base your moves on any existing publisher as nobody could focus on a single answer so I will propose a fake company and ask how you would proceed.

You are CEO of a games publisher. Your publisher has a total of 8 internal studios all with staffs of around 200. In the past your publisher was one of the biggest and best in the industry but over the last decade your publisher has been in swift decline. You currently produce up to ten games each year for a variety of platforms. You have some internal IP that are capable of selling up to 4-million copies per iteration but you only have about two of these IP. The rest of your releases sell between 500K and 1.5-mill each game and are based on licenses you have acquired or some of your past IP which have lost their ability to sell. You release two or so of your own internal IP each year but only one of the two successful IP. This means that your publisher is slowly and steadily losing money. Your publisher posted financial losses of over 100 mill this fiscal year and are in debt way more. The company has been losing money steadily for the last few years. The company has maybe one year to turn things around or at this rate it will go belly up, there are no prospective buyers.

What do you do with that publisher? Do you go bankrupt and cut your losses or do you try and save the company? If you choose bankruptcy why is that your choice? If you choose to try and save the company why do you think it is worth saving? How do you propose that you can save the company? What moves can you make as CEO to turn the company around?

**** Disclaimer please use the fake company I listed. This will allow all users to give answers about that specific situation rather then saying how they would save their favorite publisher