PSP News: Midway's Money Almost Gone - PSP News

Members Login: Register | Why sign up? | Forgot Password?

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

Put this on your webpage or blog:
Email this to a friend
Follow PSX Extreme on Twitter

Share on Twitter Share on Facebook Share on Google Share on MySpace Share on Delicious Share on Digg Share on Google Buzz Share via E-Mail Share via Tumblr Share via Posterous

New Comment System

Legacy Comment System (0 posts)

There are no comments to display.

Leave a Comment

Please login or register to leave a comment.

Latest Updates

Shadow of the Colossus Review
6d, 5h, 40m ago (2 comments)

Strikers Edge Review
10d, 6h, 20m ago (19 comments)

Okami HD Review
11d, 4h, 12m ago (6 comments)

Ultimate Chicken Horse Review
14d, 23h, 6m ago (16 comments)

Black Mirror Review
30d, 11h, 8m ago (23 comments)

Our Poll

How often do you visit the site?
Once a day
Several times a day
Every few days
Once a week
This is my first visit
I've never been here, even now I am not here

Previous Poll Results