RedEye Interactive announced

Sony Online Entertainment together with 989 Studios, a division of Sony Computer Entertainment America announced today they will make a strategic financial investment to help launch RedEye Interactive, a new independent online games development studio which recently spun off from 989 Studios. The terms of the agreement were not disclosed.

For January 1999, this is the business side of gaming doing what it always does: studios forming, publishers moving money around, lawsuits flying, and everyone promising the next big thing. Somewhere in that mess, players eventually get the games. Maybe.