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Midway's Money Almost Gone

Well, no wonder the Mortal Kombat designers want to jump ship. The situation at Midway has apparently gone from bad to worse.

GamePolitics reports that Midway owner Mark Thomas filed "a heavily-redacted statement" with the U.S. Bankruptcy Courts, and the standout points of that document aren't encouraging. Midway has nothing in the hopper that might drag in some valuable income, they "overstated the value" of the MK franchise (which we kinda figured they did), and last year, CitiGroup couldn't find anyone interested in purchasing the struggling publisher. Perhaps worst of all is the main point we take from this: Midway will be out of cash by the end of June. We don't have any further details at this time, but right now, Midway doesn't appear to be a good investment for any would-be buyer and they really don't have anything in the future that might save them. We're not sure how this is going to end - bankruptcies aren't always the end of the world for big companies - but things aren't looking good right now. We just can't imagine a video game world without Midway, but hey, times have changed. If you want to remain alive and functioning, you had best produce a few special gems every now and then.

We'll let you know what happens; maybe they can emerge from this mess with a new start. But it's more likely that the Midway as we always knew it won't last much longer...

4/10/2009 Ben Dutka

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Comments (38 posts)

Scarecrow
Friday, April 10, 2009 @ 12:46:48 PM
Reply

Don't make good games, you die.

Simple as that
Personally I really don't care.

Namco should buy/take the Mortal Kombat license :3 . That's the only good thing Midway had.

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Qwarktast1c
Friday, April 10, 2009 @ 2:45:16 PM

what... so they can make MK like tekken????

bull

if MK went to a company like namco or capcom, they would seriously take away from what MK is

it would just become "japanified" or something

dont get me wrong.... i love street fighter and tekken is good

but it would make the MK franchise weird and awkward if it became more like its japanese fighting game counterparts

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Scarecrow
Friday, April 10, 2009 @ 4:20:52 PM

SF = best fighting franchise there is.

Tekken = garbage
Soul Calibur = good

So no, they'd be in good hands

PS: The original devs will still be part of the game I'm assuming.

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Qwarktast1c
Friday, April 10, 2009 @ 6:05:52 PM

you suggested namco though.....

if you think that SF is the best fighting franchise ever, then wouldn't it be better for the MK franchise if it were to end up being sold off to capcom?????

i'm not arguing that SF isn't a good game, because it is a great game

but SF should stay SF, and MK should stay MK

because i bet that if MK went somewhere else it would be tweaked in a way that would make it more "SF ish"....

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Naga
Friday, April 10, 2009 @ 6:13:33 PM

Mortal Kombat is dead Guilty Gear conquers all

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Scarecrow
Friday, April 10, 2009 @ 6:21:47 PM

Either one,

But Namco would be better since I don't think the MK fans would like Capcom to pwn them like that :D

By the way, at that other guy. GG is BS, way too overrated. It's a game in where you've gotta be a robot to win. Mind-twisting fighting

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LegendaryWolfeh
Friday, April 10, 2009 @ 7:53:08 PM

So just because you have to be hardcore at it makes GG a bad game? Hardly. You could say the same about any fighting game, hardcore players will be better than the people who play teh games for fun or just started. I think MK should just go to Sony :P No other place could be as great.

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NiteKrawler
Friday, April 10, 2009 @ 7:54:44 PM

It's not like MK is even good anymore anyway. I heard MK vs. DC wasn't bad but MK is way different from how it used to be. They should have gone back to basics way before now. The fighting in them these days is too clunky.

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Scarecrow
Friday, April 10, 2009 @ 9:41:50 PM

@Legendarywolfeh,
No

Virtua Fighter = complexity done right

Guilty Gear = complexity done wrong

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crapreviews
Friday, April 10, 2009 @ 12:55:40 PM
Reply

hell the only game that comes to mind when i think of Midway is MK lol.

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SarahPalinMILF
Friday, April 10, 2009 @ 7:23:05 PM

I think they did Dr. Muto too for the PS2 a while back

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jaybiv
Friday, April 10, 2009 @ 1:50:53 PM
Reply

There goes my dream for NBA Jam on the PS3.

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King James
Friday, April 10, 2009 @ 4:04:58 PM

damn mine too.

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Vivi_Gamer
Friday, April 10, 2009 @ 1:53:43 PM
Reply

It would be upsetting, i feel in the last game MKvsDC they got the right formular, they just need to add the violence and you have it!

Im trying to get my PS3 to work, bloody thing, i think the Blu-ray Drvies dead, FIGHT NIGHT ROUND 3 works but other gaems and Blu-ray films dont, this is a real pain in the arse. If i cant get this sorted with Sony i doubt ill continue gaming.

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Qwarktast1c
Friday, April 10, 2009 @ 2:51:28 PM

i agree with you

MKvsDC was great, it just needed more violence to make it more "MK"... maybe if there were no DC characters.....

but i also think that deception was by far the best of the ps2 MKs, because it had the best fighting system and it had a longer story!!
EPIC!



oh and that sucks about your ps3
i actually had the same problem with my first one
except it didn't read squat!

i had to send it to sony (cause it was still under warranty) and a couple weeks later i got a factory reconditioned ps3 that still works to this day

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migabyte
Friday, April 10, 2009 @ 11:00:35 PM

That's kind of extreme, going from someone who posts on gaming sites to quitting gaming all together.

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Highlander
Friday, April 10, 2009 @ 1:56:59 PM
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Sounds like Midway might be an ideal opportunity for a company looking to strengthen it's 1st party development teams for very little expense....Sony, are you interested?

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Tim Speed24
Friday, April 10, 2009 @ 2:01:44 PM
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The last time I played a game made by Midway was in the mid-90's.

They truly did not evolve with the times. Goodbye Midway.

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Highlander
Friday, April 10, 2009 @ 2:13:28 PM

I wonder what game franchises/IP Midway has on it's books?

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Tim Speed24
Friday, April 10, 2009 @ 2:39:39 PM

Well, actually the Wheelman starring Vin Diesel is a Midway game. I'm sure that will save the Company.

Did anybody try the PS2 demo of the Wheelman? Pure crap. And yes I said PS2 because the Wheelman is no-where near the quality of a PS3 game.

Heck, Midway even knows this is going to be a crap game. It came out, for sale, day one at a $39.99 price tag.

Like someone said above make GOOD games and you will survive as a company.

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Dealnightfire
Friday, April 10, 2009 @ 3:17:48 PM

I thought Wheelman was bought by Ubisoft from Midway? Correct me if I'm wrong.

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DaNgerSteVe
Friday, April 10, 2009 @ 2:37:21 PM
Reply

good bye Midway Chicago I hardly Knew thee

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Soultaker
Friday, April 10, 2009 @ 3:42:08 PM
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I dont really remember much from midway. Did they do any racing games or anything like that??

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WorldEndsWithMe
Friday, April 10, 2009 @ 3:42:25 PM
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The problem is they used to make money from Arcade machines, now that we have consoles that are infinitely better than anything available in an arcade Midway is in trouble. Mortal Kombat will always have a special place in my gaming history and I hope it finds a way to go on.

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Qwarktast1c
Friday, April 10, 2009 @ 6:08:49 PM

So do i my friend..... so do i....

except i don't want MK to be sold off to namco or capcom because they'd probably make some changes to MK that would not be a good idea for the series

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Luiscosmo2
Friday, April 10, 2009 @ 4:45:43 PM
Reply

WHeelman got Midway bankrupt i predict.

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SarahPalinMILF
Friday, April 10, 2009 @ 7:23:50 PM

and cause Vin Diesel sucks

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MadKatBebop
Friday, April 10, 2009 @ 7:44:25 PM

Wheelman was midway? didn't know that, I liked Wheelman.

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Oyashiro
Friday, April 10, 2009 @ 4:55:08 PM
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I'm surprised! I thought they ran out of money a long time ago xD

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Bugzbunny109
Friday, April 10, 2009 @ 5:48:24 PM
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Sony should buy Midway making Midway a First-party developer. That's the only thing that can save them now. If that does happen; Midway could do a complete overhaul. Their recent games haven't been up-to-par.

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shaydey77
Friday, April 10, 2009 @ 6:45:45 PM
Reply

Where the hell is Microsoft when they could actually be useful for something??
They have cash and no good upcoming exclusives...
Midway has the developers to make some great games just not the cash...

i know it would really suck for PS3 owners but at the same time its just gonna suck for all if they disappear completely.

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NiteKrawler
Friday, April 10, 2009 @ 7:56:26 PM
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They have been deemed unworthy by the game gods.

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CH1N00K
Friday, April 10, 2009 @ 8:09:46 PM
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No more Spyhunter games? ahh....

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WorldEndsWithMe
Friday, April 10, 2009 @ 9:39:09 PM
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Well, Squeenix oughtta just buy it up cheap, they are becoming the next gaming conglomerate anyway.

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556pineapple
Monday, April 13, 2009 @ 12:19:31 PM

MK RPG!?!?! It sounds horrible, but I'd want to play it!

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BTNwarrior
Friday, April 10, 2009 @ 11:53:02 PM
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Speaking of Mortal Kombat, is it me or is Scorpion just one of the most bad ass figures in videogames? And wouldn't it suck if he was forever lost?

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Oyashiro
Saturday, April 11, 2009 @ 12:07:16 AM

They can put him in the next SSB!

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ShamRock
Saturday, April 11, 2009 @ 5:56:04 PM
Reply

idway Pleeeeeease bring back NBA Jam that game was the best so many hours and quaters wasted on that game.Ahhhh the memories.

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