Midway Games has established the timeline for the expected sale of its assets.
The company said it plans to sell off four development studios, its European and North American publishing arms, the Mortal Kombat franchise, its TNA wrestling license and more to the highest bidders on July 1.
Midway recently announced a “stalking horse” asset purchase agreement, which is expected to receive court approval in a hearing on June 2.
The company will subsequently accept binding offers to acquire some or all of its assets up to June 24. Five days later an auction will be held to determine the bid or combination of bids that achieves the highest value.
Warner Bros. Entertainment recently launched a $33 million bid for a number of Midway Games' US assets, although multiple parties are said to be interested in entering the bidding process.