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Midway sold to Warner Bros.

by on03 July 2009

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Those not involved are given notice

Well, it appears that at least some of the Midway drama could be coming to a close, as the court has now approved the sale of the majority of the Midway assets to Warner Bros. Still, not all of the Midway IP was included in the sale and both Midway San Diego and Newcastle studios have been given notice that the end is at hand unless a new bidder emerges for these studios.

The sale to Warner Bros. should be closing in the next ten days and will include the majority of Midway’s sports and arcade IP, including the next Mortal Kombat game as well as the upcoming This Is Vegas title that is still in development. Midway’s Chicago studio that is responsible for the Mortal Kombat franchise, as well as the Seattle studio that is working on This is Vegas, are also included in the deal.

The Midway San Diego studio that was working on the next installment of the TNA Wrestling title is not included in the deal, nor is the TNA Wrestling franchise which is still by all accounts available for purchase. Midway Newcastle, as we told you earlier in the week, was also not included in the deal and the new title called Necessary Force is likewise not included in the deal. Again, as with Midway San Diego, Midway Newcastle is still on the block should someone want to purchase it. According to our sources, the clock is ticking to find buyers for both of these studios and they have 60 days to find a buyer or they will be shut down.

As for the Midway sports titles, the Blitz franchise branding is included in the deal, but NBA Ballers as well as NFL Blitz are not included because Midway no longer has current licensing deals with the NFL and NBA for these titles. Wheelman’s rights also still seem a bit of a mystery from what our sources are telling us, Warner Bros. is getting the rights to the Wheelman franchise, but that might not equal a new sequel for the title with Midway Newcastle not being acquired.

Mark Thomas, who rescued Midway for a $100,000 investment, stands to gain a $5 million payout as part of the deal after reaching an agreement with creditors who objected to his original $30 million secured claim.

Last modified on 03 July 2009
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