Editor’s note: RTP Beat is a regular feature on Thursdays.Internet gaming company iEntertainment Network may be back in the game, after two potential suitors have talked about acquiring or investing in the company.

The company decided to revert to a private company last April, in an effort to increase value to its shareholders, and now the company’s founder and chief executive, J.W. “Wild Bill” Stealey, says there’s a possibility it may head back to the public markets.

“There are two investors looking to put money in the company,” says Stealey. “But they want us to be public again. I’m not interested in taking the company public again unless there’s enough investment dollars for significant game development.”

In the meantime, the company has inked a number of licensing deals, which have helped boost revenue at a low cost. It’s in the process of adding two more games from Asian companies.

Stealey says the company also has recently received acquisition offers, thanks to its technology and its patent on the Internet game space. But the offers were turned down for valuation reasons, he says. “[Acquisition] interest continues to come in bits and spurts.”

It’s unlikely iEntertainment Network will go public before the beginning of next year, says Stealey, and even then “there’s no guarantee that’ll happen.”

Since iEntertainment has been a public company in the past, Stealey says it can become public yet again in a short amount of time.

Founded in 1994, iEntertainment Network became publicly traded on the NASDAQ in 1998. The company is best known for its award-winning, multiplayer flight simulation software WarBirds.

The Triangle: Not so good for business?

The Raleigh-Durham-Chapel Hill area has traditionally won accolades for being one of the best cities to live in the country, but it’s not scoring any points for being a top city for doing business in America, at least not according to Inc. Magazine. In its March issue, the magazine rated the Triangle as the 13th worst metropolitan city to do business. On the bright side, it’s in good company, ranking behind cities such as San Jose, New York City, San Francisco and Boston … all of which, like the Triangle, concentrated too heavily on technology. According to the study, the large cities shared the problems of “unaffordable housing, over-reliance on single industries and often, poor quality of life for the middle class upon whom entrepreneurs rely.”

The article said Portland, which ranked no. 8, and Raleigh-Durham “have been ‘cities of the future’ for years.” But, it adds, “Too bad the future is more complicated than envisioned.” On the bright side, the author of the article writes that folks can “Bet on a better showing from the Carolina region within a year or two.”

Large metropolitan cities that topped the list for doing business include Atlanta, Riverside-San Bernardino, Las Vegas, San Antonio and West Palm Beach. Medium metropolitan cities included Green Bay, Madison, Sarasota, Fresno and Bakersfield.

The rankings are derived using a growth index, which is calculated from employment growth rate, and a balance index, calculated from the standard deviation of each area’s current percentage mix of employment sectors and other factors.

To see the full list of Top 25 Cities for Doing Business in America, go to: www.inc.com/magazine/20040301/top25.html

Suzanne Cantando joins Intersouth Partners

Durham-based Intersouth Partners has tapped Suzanne Cantando as director of communications. She is responsible for developing and implementing a strategy for communicating with the venture capital firm’s limited partners, portfolio companies and the entrepreneurial community. She is also assisting Intersouth’s younger portfolio companies with marketing and media relations. Prior to joining Intersouth in January, Cantando was marketing and communications director at Maupin Taylor.

WindChannel adds Paul Reams

Paul Reams has joined fixed wireless broadband provider WindChannel Communications as a business development executive. His duties include business development and sales for Raleigh, Durham, Chapel Hill and Research Triangle Park. Most recently, Reams handled business development for Web-hosting firm Redundant Networks, which earlier this month reduced its burn rate in an attempt to conserve cash and appeal to potential buyers.

Cal is going on hiatus, so please send all tips to Allan Maurer, who’ll be covering the RTP Beat column in the interim. He can be reached at: allan@localtechwire.com.