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Midway up for sale for $30m

by Steven Williamson on 16 April 2009, 11:17

Tags: Midway Games

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Troubled video game publisher and developer Midway Games, whose titles include Mortal Kombat, NBA Jam and the brilliant Ms. Pacman, has said today that it would accept an offer of $30m for the buyout of its company, a far cry from its trading value last year of $350m.

Midway has also said that it is happy to sell its IP independently, though if someone does swoop for Mortal Kombat, the company's biggest franchise, it may put off the likes of Warner Brothers and Ubisoft who have both been named as potential buyers.

Variety reports that when Midway is sold, 28 of its key employees will receive a cash sum, sharing approximately $600,000 betweem them, while other members of staff will $75,000 each if the sale price is higher than$30m.


HEXUS Forums :: 7 Comments

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Posted by finlay666 - Thu 16 Apr 2009 11:19
Might want to edit the title to $30m

Bit of a difference between $30 and $30,000,000 don't you think :P
Posted by shaithis - Thu 16 Apr 2009 11:29
$30? Anyone want to go halves on it? ;)
Posted by Spitfire01 - Thu 16 Apr 2009 13:43
I'd like to think MS would snap this studio up at a price like that.. but they way money problems are and the fact they've recently been trimming the fat from their other studios it might not happen. Might be good to help bolster some first party support.
Posted by finlay666 - Thu 16 Apr 2009 15:30
Spitfire01
I'd like to think MS would snap this studio up at a price like that.. but they way money problems are and the fact they've recently been trimming the fat from their other studios it might not happen. Might be good to help bolster some first party support.

Why?

Who wants to buy a company whose doesn't really have any IP that is currently good that people instantly associate?

Mortal Kombat? The game died a long time ago IMO (sub zero chronicles)

Wheelman? Cheap transporter knock off without any legacy to it

I'm really stuck for more IPs they have.
Posted by Spitfire01 - Thu 16 Apr 2009 16:59
Why do they need an old IP to beat to death, ala mortal kombat… get them on something fresh… Compared to the sum they paid for Rare getting Midway to work on a new IP isn't as much of a risk. If I was in MS's shoes and the 30mill was there to spend i'd give it a crack.

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