Time extension: Midway gets extra month to pay off debts

by Jason Dobson { Jan 6th 2009 at 12:26PM }

Midway has picked up a time bonus, turning back the clock somewhat on its 50-day fast track to financial doom. The troubled Mortal Kombat publisher has negotiated some breathing room for itself, extending the deadline to pay back half of its crushing $150 million in debt by another month until February 19. Of course, this still leaves $75 million to fork over to investors in a couple weeks, though Midway notes that it is currently "in discussions" to push back the repayment of this debt as well.

When things are going south as quickly as they have gone for Midway, you take your victories where you can, though unless Midway expects next month's Diesel-fueled Wheelman to drive to the front door with a bag of cash, we wouldn't stop looking under the rug for loose change just yet.

[Via Variety]

Tags: bankruptcy, debt, midway, money, mortal-kombat, wheelman

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Reader Comments (Page 1 of 1)

I H8 YOUR SOUL @ Jan 6th 2009 12:45PM

Why is this taking so long???FINISH THEM!!!!!

Muffin Lad @ Jan 6th 2009 12:48PM

Come Feb 19th "Fatality!"

ryan @ Jan 6th 2009 12:46PM

Heh, Game Over! Continue? Y/N? 10...9...8...7...

Even tho I never really liked their recent games, a part of me is saddened to see them go.

SoulBlade @ Jan 6th 2009 12:49PM

The headline made me want another Daytona.

MuToiD_MaN @ Jan 6th 2009 1:57PM

TIIIIME extension!!!!

ryan @ Jan 6th 2009 2:27PM

"Day-eee-tonaaaaa! Let's go away!"

tifosiotaku @ Jan 6th 2009 5:08PM

That's Sega...

&rew @ Jan 6th 2009 12:52PM

The reason they got an extension is because they couldn't find a legbreaker capable of taking on Sub-zero and Batman.

skyfire @ Jan 6th 2009 1:05PM

stop making s*** games and you'll stop losing money. come on, mk vs dc????? craptastic

Dr Jeckyl and Mr ESC. @ Jan 6th 2009 6:33PM

Have you even played it? I'm tired of hearing the opinions of uninformed idiots who never played the game and yet they are attacking it to look cool in the internet. Mk vs Dc is one of the best MK games they have released in a while.

I'm not going to lie to you some of the Heroic brutalities and Fatalities do suck but is just a little part. Online the game is pretty good.

My only complain is the craptastic Xbox 360 controller. The Dpad does in fact suck.

Now with that said have anyone bought anything else from Midway that isn’t related to Mk or Unreal?

MegaSnort @ Jan 6th 2009 1:13PM

The only good games they've published this decade are LOTRO and Unreal, both created by independent developers (Turbine and Epic respectively) and likely to be unphased by Midways demise. Their flagship series, Mortal Kombat, is utter crap and has always been. If it wasn't for the gory content of the original being "cutting edge" for its time, the series would have never gained any following and died back in '92.

Dr Jeckyl and Mr ESC. @ Jan 6th 2009 6:40PM

Why people hate MK so much? MK series have always been decent except for the Spin off and of course Armageddon.

Is higher in my list than SF also that the same can be said of Gears of war.Would anyone pay attention to it if it wasn't for the gore?

Strategy_Panda (The Sandwich Poisoning Crew) @ Jan 6th 2009 1:50PM

Midways three month plan:

"We tried to call you Saturday. We left a message with some guy named Hans"

"What happened to your China? You used to be cool."

"The rest of you should go home and check your mailboxes, I totally remember sending checks out."