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Warner Bids $33 Million For Midway Assets
Warner Bros. Entertainment has launched a $33 million bid for a number of Midway Games' US assets.
If the move proves successful it would see Warner acquire the Mortal Kombat franchise and Midway's Chicago and Seattle-based development studios.
The proposed agreement does not include the sale of Midway’s development studios in San Diego and Newcastle, UK, or its TNA wrestling franchise.
Midway is currently seeking bankruptcy court approval for the sale of the assets.
“Prior to court approval of the Warner agreement, there will be a court-supervised auction process to facilitate competitive bidding by other qualified buyers,” Midway said in a statement. “This process is intended to achieve the highest value possible for the company's stakeholders.
“The bidding procedures, if approved, would require interested parties to submit binding offers to acquire some or all of the company’s assets within approximately 30 days of court approval of the bid procedures. Assuming qualified bids are submitted, an auction would be held a few days prior to the sale hearing. A court hearing approving the sale to the winning bidder or bidders would be held soon after the conclusion of the auction, followed by a final closing.”
Recent reports suggested that Midway owners and debtors had agreed on a $30 million target sales price.
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Copyright 2006 - 2009 Future Publishing Limited, Beauford Court 30 Monmouth Street Bath, UK BA1 2BW
England and Wales company registration number 2008885
Dreamhunk, you're saying that because you can't visualize the potential.
Once you see an "edgy" Wiley Coyote pwn Scorpion with a portable hole, complete with blood & entrails flying out of it, you'll totally understand.
Mortal Komba is worht 2 mill tops meh!Mortal Kombat is over rated these days. If I wa going to get a figting gme I would either get street fighter or soul and blade fightng mmo.
http://www.youtube.com/watch?v=AUHmTSJ7b-Q
http://www.youtube.com/watch?v=EtA1jSreK84
must console fighting games are boring and have not evoled in any shap or form
Where do you come up with these links? I see you on these forums and you shoot link after link after link. I don't bother going to them though. Do you have them all saved under your bookmarks or are you a master of using the tags on google?
no, don't put them in my bookmark, pc gamers are really good at finding stuff on the net.It's not hard.
think of pc gamers like the borg, the internet the hive mind
http://www.youtube.com/watch?v=WZEJ4OJTgg8
$2-million for a franchise that just sold 1.8 million copies at $60 a pop across two systems is pretty crappy math on your part.
I'm already prepping my gaming rig for Mortal Kombat VS. Looney Toons!
I think they are paying way too much for midway they are worth less than that
We may think they are worth less then that but in a time of economic crisis this is very important. The fact that the Mortal Kombat IP is up for grabs is huge, along with studios. This means that a developer/publisher can expand on its development cycles without having to invest in an area and waiting for the development to finish.
I can only hope that the Mortal Kombat IP goes into good hands that will develop it the way it should be developed.