Rumor: Warner Bros. hooked on Midway bait
by James Ransom-Wiley 
{ Apr 24th 2009 at 6:40PM }
An anonymous source tells MCV, "Warner is pretty confident that they will get Midway ... They look ready to put the money on the table." Whether that money is the full $30 million or just a portion of the asking price (for specific IPs like Mortal Kombat, etc.) is allegedly keeping the deal on the line. Will it snap? Oh, the suspense!
Reader Comments (Page 1 of 1)
343 Guilty Fart @ Apr 24th 2009 6:45PM
GET OVER HERE!
Look At This Suit @ Apr 24th 2009 6:46PM
A more appropriate image would have been Scorpion's GET OVER HERE!! on the WB logo.
Jeffrey @ Apr 24th 2009 6:55PM
I had the exact same thought.
The only problem is that it's Warner Bros who is telling Midway to get over here, not the other way around.
http://videogamejunkies1.blogspot.com/
fuzzynyanko @ Apr 24th 2009 6:56PM
Well, at least people will keep their jobs. It's not surprising since Midway is selling at 7 cents/share
ozzzy @ Apr 24th 2009 7:21PM
7 cents per share OTC (Over the Counter). They aren't listed on any exchanges.
Doesn't Midway have like $1.6 Billion in debt? Their balance sheet only listed $340 Million in liabilities. Doesn't seem worth it to me, $30 million dollars to acquire that much debt.
fuzzynyanko @ Apr 24th 2009 7:57PM
It's not just a name. It's their IPs, which are very hard to establish. Let's face it: video game companies want to have a stable IP in order to keep bringing in more money. They also have a bunch of studios that have teams already in place.
Mark C @ Apr 25th 2009 12:13AM
Give me back that fillet of fish...
ManekiNeko @ Apr 25th 2009 1:30AM
Mmm... Atari Games, Time-Warner Interactive, Midway, and now back to Time-Warner. Makes sense to me!