TSR, Inc.

TSR, Inc. (Tactical Studies Rules) was an American game publishing company, best known as the original publisher of Dungeons & Dragons (D&D). Its earliest incarnation was founded in October 1973 by Gary Gygax and Don Kaye. Gygax had been unable to find a publisher for D&D, a new type of game he and Dave Arneson were co-developing, so he founded the new company with Kaye to self-publish their products. Needing financing to bring their new game to market, Gygax and Kaye brought in Brian Blume in December as an equal partner. Dungeons & Dragons is generally considered the first tabletop role-playing game (TTRPG), and established the genre. When Kaye died suddenly in 1975, the Tactical Studies Rules partnership restructured into TSR Hobbies, Inc. and accepted investment from Blume's father Melvin. With the popular D&D as its main product, TSR Hobbies became a major force in the games industry by the late 1970s. Melvin Blume eventually transferred his shares to his other son Kevin, making the two Blume brothers the largest shareholders in TSR Hobbies. TSR Hobbies ran into financial difficulties in the spring of 1983, prompting the company to split into four independent businesses, with game publishing and development continuing as TSR, Inc. (TSR). After losing their executive positions, the Blume brothers subsequently sold their shares to TSR Vice President Lorraine Williams, who in turn engineered Gygax's ouster from the company in October 1985. TSR saw prosperity under Williams, but encountered financial trouble in the mid-1990s. While their overall sales and revenue were healthy, TSR's high costs meant the company nevertheless became unprofitable and deeply in debt. TSR was left unable to cover its publishing costs due to a variety of factors. Facing insolvency, TSR was purchased in 1997 by Wizards of the Coast (WotC). WotC initially continued using the...