Midway Bankruptsy

Warner likely new Midway owner after being sole bidder

Warner Bros. became the lone bidder for Midway this past Wednesday, reports the LA Times. “No other bids came in, so there’s not going to be an auction,” said Geoff Mogiln, a spokesman for Midway. Mortal Kombat, Spy Hunter, Joust, Wheelman and other Midway properties are part of the deal with Warner, along with two […]

11 years ago

Midway Bankruptsy headlines

  • Midway Newcastle and San Diego may have to close in two weeks

    Midway’s Newcastle and San Diego studios may have to close up shop in two weeks if a buyer or investor is not found for the open-world game currently in the works. “100 percent of my efforts and focus are on finding a solution to keep the studio going forward, making it viable and securing jobs […]

    11 years ago
  • Midway Creditors sue Redstones, Mark Thomas over leaving Midway "insolvent"

    Creditors are suing several parties involved in the recent bankruptcy and original sale of Midway, including Mark Thomas, and Sumner Redstone along with his daughter Shari and his holding company, National Amusements. The lawsuit stems from what the creditors called a “breach of fiduciary duty, corporate waste and unjust enrichment” pertaining to the financial crisis […]

    11 years ago
  • Midway offers employee incentives if firm is sold for $30 million

    Midway is awaiting court approval to hand out monetary incentives from a pool containing up to $600,000 providing it can sell the company for $30 million, reports Gamasutra. Two goals for the company include the $600,000 reward pool, the other to pay key personnel $1 million once the sale closes. Midway determined these bonuses by […]

    11 years ago
  • Court report shows Midway will be broke by June

    Mark Thomas, the owner of Midway, filed a document with the to US Bankruptcy Court last week that reveals the company will run out of cash by June. GamePolitics got hold of the 44-page document, and this is what was discerned: Midway will run out of cash in late June Midway has no games set […]

    11 years ago