By 1976 Atari was in the midst of developing the Atari VCS (Video Computer System, later renamed the Atari 2600), but Bushnell realized that if the company was going to grow, it needed capital, and with the stock market in a bleak condition, going public would not be the solution. He made a list of companies to approach to buy Atari. Meanwhile, Steve Ross, CEO of Warner Communications, noticed that his children were hovering around video game cabinets at Walt Disney World. Warner Communications contacted Atari to discuss purchasing the company. For $28 million, Warner Communications (now Time Warner) bought Atari, bringing the capital they needed for the VCS launch, which took place in August 1977.