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Midway files for bankruptcy

Queasy

Moderator<br>Console Gaming
Press Release - Midway filed for Chapter 11 bankruptcy today...meaning they are still alive but are working with creditors to reorganize their debt (hence the brutality instead of the fatality). Apparently, they feel their business model is still solid following sales of Mortal Kombat vs DC Universe, TNA Impact, and their Game Party franchise last year.
 
Originally posted by: Queasy
Press Release - Midway filed for Chapter 11 bankruptcy today...meaning they are still alive but are working with creditors to reorganize their debt (hence the brutality instead of the fatality). Apparently, they feel their business model is still following sales of Mortal Kombat vs DC Universe, TNA Impact, and their Game Party franchise last year.

disclaimer: I used to work for Midway.

Mortal Kombat consistently has to step up to the plate to save Midway time and time again. Their problem is they have way too many studios wasting time and money on games that aren't well thought out, are rehashes of their older games for different systems or just plain aren't fun to play.

Their sports games have been absolutely tanking and despite what people think about NBA Jam, there's no way another game like that could do anything to help them.

They have (had?) some really interesting projects in the works that I can't talk about but hopefully The Wheelman does well for them.

The sale by Redstone really fucked Midway over because it meant that all their debts had to be repayed within 30 days as opposed to 2025/2026.
 
I think NBA Jam would be great for a downloadable title, but the licensing would probably kill off any profit it might realize. What IP's does Midway even still own that are well known that could help them earn some cash?
 
Originally posted by: blurredvision
I think NBA Jam would be great for a downloadable title, but the licensing would probably kill off any profit it might realize. What IP's does Midway even still own that are well known that could help them earn some cash?

They own the rights to a TON of old games but like you said nothing that would turn a profit for them. Releasing a 'greatest hits' compilation for next-gen consoles just doesn't cut it, no one wants to play those games any more despite the nostalgia associated with them.
 
Originally posted by: Platypus
They have (had?) some really interesting projects in the works that I can't talk about but hopefully The Wheelman does well for them.

Ruh-Roh Shaggy

Wheelman, the open world Vin Diesel racer, may be the first title to be properly reorganized under Midway's chapter 11 bankruptcy, as Kotaku has learned that the game has found a new home at Ubisoft. We'd heard from a source last week that the game was planned to change publishers, with an announcement from Ubisoft expected shortly. Just recently, we'd heard from other sources at retail that outstanding orders for the game had been put on hold, with expectations that Wheelman would be re-solicited, delayed, and reappear as a Ubisoft game. Whether Wheelman would be re-branded as part of the Driver series, the rights of which Ubisoft purchased from publisher Atari in 2006 is unknown, but given the extensive marketing Midway has put behind the Midway Newcastle and Tigon Studios developed title, it might seem like an odd fit. Retailers worldwide are currently showing the game's release date as March 20th, the most recent date provided by Midway after a series of delays. When contacted, Midway representatives had a firm "No comment." Reps said that the company is currently focused on its financial issues and working through its bankruptcy reorganization.
 
Originally posted by: Queasy
Originally posted by: Platypus
They have (had?) some really interesting projects in the works that I can't talk about but hopefully The Wheelman does well for them.

Ruh-Roh Shaggy

Wheelman, the open world Vin Diesel racer, may be the first title to be properly reorganized under Midway's chapter 11 bankruptcy, as Kotaku has learned that the game has found a new home at Ubisoft. We'd heard from a source last week that the game was planned to change publishers, with an announcement from Ubisoft expected shortly. Just recently, we'd heard from other sources at retail that outstanding orders for the game had been put on hold, with expectations that Wheelman would be re-solicited, delayed, and reappear as a Ubisoft game. Whether Wheelman would be re-branded as part of the Driver series, the rights of which Ubisoft purchased from publisher Atari in 2006 is unknown, but given the extensive marketing Midway has put behind the Midway Newcastle and Tigon Studios developed title, it might seem like an odd fit. Retailers worldwide are currently showing the game's release date as March 20th, the most recent date provided by Midway after a series of delays. When contacted, Midway representatives had a firm "No comment." Reps said that the company is currently focused on its financial issues and working through its bankruptcy reorganization.

That's a good thing for them, it's being published by Ubi. As far as being rebranded as a Ubi game I'd say that's FUD at this point.
 
All I'm saying is: console simulations of their licensed pinball tables. No, it probably wouldn't save the company financially in any way, but at least I'd have my copy before the assets get scattered to the roving corporate raiders.
 
NBA Jam Tourney Edition at the arcade was off the hizzy! I have it on SNES, but it just isn't the same as the arcade.
 
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