"We had a court hearing yesterday and the end result of that is the sale was approved and the closing will occur within the next 10 days," a Midway representative told us, continuing, "Since we didn't get any bids for the San Diego assets, we actually gave the employees a required 60-day warning." According to the US Department of Labor, employees of 100 or more person companies must be warned 60 days prior to being let go due to "plant closure" (or studio closure, in this case).
Midway remains positive on the San Diego studio, saying, "For now those employees are continuing to work and it's still entirely possible that a bidder could come in and acquire the San Diego assets." When asked what would happen to the TNA license if the studio did go under, Midway was unsure. Maybe THQ and its fancy new business plan can help a brotha out?