On Thursday, Midway said it had terminated undisclosed licensing agreements, leading the firm to revise its earnings outlook.

But a Midway rep told Edge in a phone interview, “These were amicable terms. It ended up being a good thing for all parties.”

He declined to reveal which licensing agreements had been affected by the decision, only confirming that its partnerships with DC Comics and TNA Wrestling still stood.

“We’re sort of in the blackout period prior to our earnings call,” he said, explaining the radio silence.

The decision to cancel the licensing agreements led Midway to forecast a Q3 net loss of 70 cents per share, versus the previous estimated net loss of 49 cents per share.

As of noon EST, shares in the company dropped nearly 13 percent to $1.31.

The rep said that in the short term, Midway will see a negative impact from the cancellation of the agreements, but in the longer term, the company would not incur further licensing fees and development costs for correlating titles.

In addition, Midway's 2009 title The Wheelman, which will star Vin Diesel in both game and movie iterations of the property, is still safe.

“The Wheelman is actually a Midway property,” the rep clarified.