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Joystiq

Warner Bros. bids on Midway for some reason

by JC Fletcher on May 21st 2009 1:30PM

When we read about Midway's recent troubles, we're glad we don't own any piece of the company. However, Warner Bros. executives see the same stories and think "we need that." Midway announced today that a "stalking horse" asset purchase agreement with Warner Bros. has commenced, with Warner bidding $33 million for the majority of Midway's assets, including studios in Chicago and Seattle, as well as the Mortal Kombat franchise.

According to Midway's press release, the agreement does not include rights to TNA wrestling games, nor Midway's San Diego and Newcastle studios.

This isn't a sure thing yet: before the Warner agreement goes through, other "qualified buyers" will be allowed to put in bids in a "court-supervised auction process."

Source

Tags: business, buyout, industry, midway, warner-bros

Reader Comments (20)

They probably think it'll look nice between AOL and DC comics.

No, seriously, it seems like a good buy to me.

They must've been really pleased with the success (?) of MK vs. DC.

I don't know why but "stalking horse" is my new favorite phrase.

good buy indeed. Warner games have been good last i remember (all i remember is FEAR 2)

They've worked with Midway on the latest Mortal Kombat (Warner owns DC) so it makes sense to me that they'd like to keep that bit of synergy going.

And maybe if the deal goes through we can get that "Mortal Kombat vs. Harry Potter" game I've been dreaming about.

can't say I DIDN'T see that coming.... I meant they are trying to get in the Game business so why not pick them up??

As an Austinite I approve

whoever buys it needs to get a new gauntlet game out, akin to gauntlet legends and gauntlet: dark legacy. Like, RIGHT NOW.

Some reason? I'd say owning the MK franchise is a pretty big deal here. Fletch get your shit together next time

I think your sarc detector might be busted.

" we're glad we don't own any piece of the company". Did you forget that you are both owned by Time Warner? Have you looked at your 401K statement?

Hopefully they don't turn midway into some sort of licensed-game crapfactory...

Whoever gets it, make a new San Fransico Rush 2049. Pretty sure its Midway with the rights to the game.

Battle mode on the Dreamcast is probably my most found gaming memory. My dad and I played it so much that to this day he has permenant nerve damage in his gass pedal finger.

Yeah, Rush 2049 is Midway's game.

I'd like to see a sequel to The Grid, or the original on XBLA/PSN with online play.

I agree on both acounts.

They probably want what's left of Atari Games back. If I'm not mistaken, Midway owns that part of Atari (Infogrames owns the Jack Tramiel home part of it.)

Infogrames owns all the Atari IP up to 1984 (including the home division and arcade classics like Centipede, Asteroids and Missile Command), and Midway owns everything else, from Gauntlet and Marble Madness to Rush 2049 and everything else in between.

Its because of the whole "games are becoming more popular than movies" thing. Warner Bros is primarily movies, they want to get more into gaming. The Midway name is well known and they can probably get it for a good price.

Where the fuck is my Psi-Ops 2?

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Warner Bros. bids on Midway for some reason

Reader Comments (20)

Posted: May 21st 2009 1:35PM Batzarro The worlds WOrst Detect said

Posted: May 21st 2009 1:40PM StormEagle said

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Posted: May 21st 2009 3:22PM R Planteer said

Posted: May 21st 2009 5:28PM (Unverified) said

Posted: May 21st 2009 8:58PM Batzarro The worlds WOrst Detect said

Posted: May 21st 2009 5:14PM Big George said

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