Everyone knows that
Midway Games has been in a tough financial spot since it's former owner
Sumner Redstone got himself in a bind and
abruptly sold the company late last year. This action caused all of Midway Games' debts to have to be repaid sooner than planned. We at TRMK haven't covered this news because it we felt wasn't right to sully the release of
Mortal Kombat vs DC Universe with bad news as the game was still starting to appear in stores worldwide at the time. The situation was very complex we felt that posting up the many strings of bad news could appear to be overly negative when we were supposed to be excited at the release of the latest MK title.
So now with that game in stores, and development already in progress on the
next Mortal Kombat game, Midway's financial news is a much more important to the future of the series. So we've decided to cover the major events only, and we hope to help explain to the fans what is going on so they understand a bit better instead of letting a misleading headline shape their view of the situation.
The recent news is that earlier today Midway Games made a necessary and expected move to protect it's survival. Today
Midway Games filed for Chapter 11 with the
US Bankrupcy Court. Filing for
Chapter 11 will allow Midway to reorganize it's business, reduce it's debts and get things moving in a much more positive direction to ensure their survival. Many companies have filed for Chapter 11 over the years, and have successfully emerged a few years later much stronger than before. Midway said they are expecting to be able to continue their daily operations as normal, as is common with Chapter 11 filings. This means that any work in progress already, will continue. If you'd like to know more, read about
Chapter 11 on Wikipedia.
We wish the best of luck to all of our friends at
Midway Games. We can't wait to see them pull themselves out of this with some great new games over the next few years, like the in-development
Mortal Kombat 9. Also of note, Midway's latest game,
Wheelman arrives late next month, and the highly anticipated
Mortal Kombat vs DC Universe Downloadable Content should be arriving rather soon as well.