An SEC filing indicates that Midway’s San Diego studio has been sold to THQ, and its French and German divisions to holding companies formed by their heads, resulting in what is “effectively a management buyout for each regional distribution area.”
According to a report from Gamasuta, THQ will offer employment to at least 40 of the 100 employees working at the studio, but “specifically excluded from the bankruptcy purchase by THQ is the contract with the TNA iMPACT! video game in development at the studio, as well as the third-party tools such as Unreal Engine being licensed for the game’s creation.”
At least there’s some good news for the employees of Midway.
More through the link.