<div style="float:right;background-color:#888;width:194px;height:200px;text-align:center;padding-top:5px;color:#000;margin:5px;"><img src="http://www.mcvuk.com/static/images/news/34065/184_8168_Warner_Midway_a.jpg?i=1240583760"><br/>Image: MCV</div>Well looks like the rumors of <a href="http://www.trmk.org/news/12563/midway_bonuses_approved_warners_to_purchase.html">Midway being bid on by Warner Brothers</a> were true. <a href="http://midway.com/us/pr/mpr_5596.html">Official word from Midway</a> today that they have accepted a <a href="http://en.wikipedia.org/wiki/Stalking_horse">Stalking Horse</a> bid of $33 million USD on the company by Warner Brothers. This would be the starting the bidding process for the sale of the company's assets. This doesn't mean Warner Brothers has purchased Midway, just means that <b>they are the initial bidder</b> in a auction that will go on over the next few months once bidding is started by the bankruptcy court. Also of note, their bid is $3M higher than the <a href="http://www.edge-online.com/news/midway-aims-for-30-million-sale">$30M that Midway estimated</a>. We wouldn't be surprised if the final sale price is over the $33 million bid once the auction is closed.
It's unclear what is part of the sale, but it's for sure the <b>Mortal Kombat franchise</b> along with most of the company's US assets, including their Chicago offices. It does exclude a few parts things like the <b>San Diego and UK studios</b> along with the <b>TNA Impact</b> franchises. But I'd assume all their IP, including those gained from the purchase of Atari Games is included. Here is what the press release had to say about that.
You can <a href="http://midway.com/us/pr/mpr_5596.html">read more details in the press release here.</a> We will update as we learn more.
<b>Updated 5/28/2009</b>
Midway released a <a href="http://www.midway.com/us/pr/mpr_5597.html">press release today</a> detailing the time frame of the bidding process. All the bidding will take place in June, and a winning bidder will be chosen in early July. After which the sale will probably take some time to close and finalize, so the next two months will be very interesting indeed. But it sounds like development of <a href="http://www.trmk.org/games/mortal_kombat_9/">Mortal Kombat 9</a> will likely continue under the new ownership.
It's unclear what is part of the sale, but it's for sure the <b>Mortal Kombat franchise</b> along with most of the company's US assets, including their Chicago offices. It does exclude a few parts things like the <b>San Diego and UK studios</b> along with the <b>TNA Impact</b> franchises. But I'd assume all their IP, including those gained from the purchase of Atari Games is included. Here is what the press release had to say about that.
You can <a href="http://midway.com/us/pr/mpr_5596.html">read more details in the press release here.</a> We will update as we learn more.
<b>Updated 5/28/2009</b>
Midway released a <a href="http://www.midway.com/us/pr/mpr_5597.html">press release today</a> detailing the time frame of the bidding process. All the bidding will take place in June, and a winning bidder will be chosen in early July. After which the sale will probably take some time to close and finalize, so the next two months will be very interesting indeed. But it sounds like development of <a href="http://www.trmk.org/games/mortal_kombat_9/">Mortal Kombat 9</a> will likely continue under the new ownership.
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