Midway is Sold for Pennies on the Dollar

Midway is Sold for Pennies on the Dollar

December 1, 2008

Financially-troubled game publisher Midway has been sold for a mere pittance of its former value.

Reuters reports that media tycoon Sumner Redstone (left) unloaded his controlling interest in the Mortal Kombat publisher for $0.0012 a share, or about $100,000.

Hell, at that price any gamer with a full-time job could have gotten a loan and owned their own game company.

The buyer is investor Mark Thomas. In addition acquiring Midway's assets, however, Thomas also bought himself $70 million worth of Midway debts.

In doing the deal Redstone, 85, takes a huge loss on his initial investment in Midway but realizes an $800 million tax saving for his media conglomerate, National Amusements.

As for Mark Thomas, in a year or two we might be toasting him as the man who saved Midway. Or, he could be the answer to the trivia question, "Who was Midway's final owner?"

Comments

Re: Midway is Sold for Pennies on the Dollar

he spent a hundred grand, to buy 70 million in debt.....

He'd better have a few.... i mean 70 million, aces up his sleeve.

Re: Midway is Sold for Pennies on the Dollar

This is sad. Midway at one point was a decent publisher. They don't deserve this end.

I would hope a new owner would be able to turn them around before they go bankrupt.

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Re: Midway is Sold for Pennies on the Dollar

that's like saying teh BeeGee's used to put out good music.... while it's true, it's been a while....

Re: Midway is Sold for Pennies on the Dollar

Suck it, Redstone!

---You are likely to be eaten by a Grue.

Re: Midway is Sold for Pennies on the Dollar

I dont think so world is ready to see one more bankrupt.

http://www.blueunplugged.com/p.aspx?p=122588

Wii Games

 

 

Re: Midway is Sold for Pennies on the Dollar

DAMN! I wish I had known. I would done the same thing in a heartbeat. The IP Midway controls could easily generate big money. Some guys have all the luck...

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Re: Midway is Sold for Pennies on the Dollar

How to save Midway:

1) Put new/better talent on the MK team: MK vs DCU looked & played like an XBox1/PS2 game.  Hell, try and get better talent alltogether.  TNA Impact! should have been so much better...

2) Tap into your classic properties Capcom-style.  A new hi-res remake of Smash TV would do well on XBLA and PSN.

3) Stop taking risks with new IP for now.  Blacksite: Area 51 should not have been released given its quality.

Re: Midway is Sold for Pennies on the Dollar

no bank in thier right mind would have loaned you the money without wanting to see some financial statements.

and once they'd seen them.... You'd never get the loan.

Re: Midway is Sold for Pennies on the Dollar

Shit, I would've bought midway at that price.

My solution?  NEW SMASH TV FOR EVERYONE, BITCHES!

Re: Midway is Sold for Pennies on the Dollar

That sucks... I like Midway...

 

If they want to cash in on a sequel, I'd like to see another Hydro Thunder.

--- Official Protector of Videoland!

Re: Midway is Sold for Pennies on the Dollar

I hope he does not tone down the next MK game. :(

Re: Midway is Sold for Pennies on the Dollar

If Atari can turn it around fast enough, I would love to see a reunified Atari Corp.

Someday...

Re: Midway is Sold for Pennies on the Dollar

I would buy Midway, bring back Ready2Rumble, and use my new innovative ideas for a fighting game to be used with the MC license. I have some great ideas that I would love to try.

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Film izle - video izle

Re: Midway is Sold for Pennies on the Dollar

I would buy Midway, bring back Ready2Rumble, and use my new innovative ideas for a fighting game to be used with the MC license. I have some great ideas that I would love to try.

Re: Midway is Sold for Pennies on the Dollar

Midway sold that cheap? Wow. I have a friend who is an Mortal Kombat fan who could have probably qualified for that loan.

Re: Midway is Sold for Pennies on the Dollar

This might be good news. The IP the company owns is very robust, and carefully planned Virtual Console/Playstation Network/Live Arcade releases would tackle a chunk of debt right there. What the company needed to dp before getting to the point where it was offloaded so cheaply was a revival of the classic series.

The Cruisin' series begged for a VC release, at least... If not a new entry.

Re: Midway is Sold for Pennies on the Dollar
Re: Midway is Sold for Pennies on the Dollar

I'm all for freedom of ttnet vitamin speech and allowing rent a car game makers to put whatever they want in games, but there's one thing about this app that has me scratching my head.  Correct me if I'm wrong, but from araç kiralama the previous article araba kiralama on this I gathered that players can use Google maps in-game to find the other (real-life?) dealers in their area.  If this is the case, has travesti anyone considered what's stopping someone from using this app to actually move drugs between hands for reals?

But majority araba kiralama of their outrage araç kiralama stems from what it could DO TO children, not the content itself.  Talk to one of these people and you'll find they don't think any books kiralık araba should be banned from children.  Mention American Psycho and they talk about kiralık araç the redeeming value of using imagination to construct a story.  Reading, no matter what the content, is largely viewed as a consequenceless activity for people of any age.  The reason why I mention American Psycho is because of the content itself.  Gaming never has and likely never will have any scenes where someone has sex with a severed head.  Not gonna happen.  Yet despite this, they'll fight tooth and nail to protect their children from two boys kissing in Bully but whatever they read is harmless... yeah.

The entire arguement is kiralık oto based upon a social normality inflicted by luddites who can't figure out the controls for Halo so it's frightening and terrifying and obviously the cause of youth violence on the rise even though, in reality, it's in decline (which is actually a HUGE suprise given minibüs kiralama the economies status).  In  a perfect world, we would have parents that actually parent.  The idea of sales restrictions on media on oto kiralama any form to accomidate parental unwillingness to get involved with their child's life is the real problem to me.  Here I am, 32 years old, and being held up at a self-scan rent a car needing to show ID before I can buy a $10 M rated game all because Soccer Momthra can't be bothered to look at the crap Billy Genericallystupidson does in his free time.  It's too hard for her, so I have to suffer?

Re: Midway is Sold for Pennies on the Dollar

Thanks good job;

Btw, I think Atari and Midway will drop out too, but mostly travesti because  these guys have done nothing travesti or little and need to start saving costs. and dizi izle

YES.

Now I don't have to get off my ass for the important shit anymore!

Whats next, ordering pizza from Xbox live?

Wait... I think that sounds like a good idea.

But I think voting should MAKE you get off your ass, and see outside or a second while you go vote. I mean, your picking the president of the United States of America for God's Sake... least you can do is drive down there and punch out a card.

 

Re: Midway is Sold for Pennies on the Dollar

Great thoughts and great ideas for accounting.

Accounting papers

Re: Midway is Sold for Pennies on the Dollar
Re: Midway is Sold for Pennies on the Dollar

film izle

 

Great thoughts and great ideas for accounting.

Re: Midway is Sold for Pennies on the Dollar

$0.0012 a share" I could have got couple shares at this price :)

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Posted 11/07/09 at 04:27pm
ZippyDSMlee: man I got alot of junk and dup files too >< god I need orginization...and no not the knee capping media mafia kind :P
Posted 11/07/09 at 04:26pm
ZippyDSMlee: replaced :P
Posted 11/07/09 at 04:23pm
ZippyDSMlee: beemoh:hey its like 60GB porn,400GB anime 100GB games and crap I have took from all my DVDs, I hate waiting on dvds to install stuff..... oh and 40GB of my porn was in the found.000 folder...mostly corrupted.... least I got names of wut needs to be repa
Posted 11/07/09 at 04:18pm
beemoh: @Zip: ...and you'd have to spend all that time re-downloading that porn?
Posted 11/07/09 at 03:34pm
ZippyDSMlee: ggrrrrr......vista lost one of my hard drives and I had a heart attack thinking I lost 1TB of data....
Posted 11/07/09 at 10:58am
JDKJ: Which could be explained by both (a) and (b).
Posted 11/07/09 at 10:56am
Austin_Lewis: JDKJ: You forgot C) the fact that, for some reason, every time he did something that would suggest he shouldn't be in the military, let alone an officer, higher ups ignored it or let it slide.
Posted 11/07/09 at 10:51am
JDKJ: Part of the problem is, I believe, that (a) the Army had a lot of time and money already invested in him and which they were unwilling to simply write-off and (b) an increasing need for the type of skills and services he provided.
Posted 11/07/09 at 10:48am
JDKJ: And that even if he was begging not to get cut loose, he was apparently a real good candidate for being cut loose, anyway.
Posted 11/07/09 at 10:11am
JDKJ: @chada: And while Kennedy once noted that there's usually more than enough blame for everyone to get a slice, the possibility that the Army was unwilling to cut loose someone who was asking to get cut loose could be a factor.
Posted 11/07/09 at 10:07am
ZippyDSMlee: *noms on his feet*..nomnomnomnom*droooll* ...wuuutttttt uuu looking at?
Posted 11/07/09 at 10:05am
JDKJ: I'm no psychologist, but I'm told that crazy people have a tendency to do crazy things.
Posted 11/07/09 at 10:03am
chadachada321: Whoops, was out of the convo for awhile. I do wonder what type of ammo he used etc, but the real issue is WHY he did it, not HOW
Posted 11/07/09 at 09:56am
JDKJ: But if it turns out that they actually did, they'll have Hell to pay.
Posted 11/07/09 at 09:45am
JDKJ: And I'd tend to rule out the possibilty of FN Herstal supplying restricted ammunition to someone merely because they're ordering it from a military base.
Posted 11/07/09 at 09:37am
JDKJ: I know you don't leave your gated community and get around much in dark alleys, so you may be surprised to learn that there's this thing called "the black market" where, if you've got enough money, ain't too much of anything which can't be bought.
Posted 11/07/09 at 09:36am
Austin_Lewis: Or, maybe he or someone else at the base ordered the SS190 from FN Herstal.
Posted 11/07/09 at 09:32am
Austin_Lewis: the hands of private owners. They run about 300 dollars minimum for a box of 50, and boxes of AP 5.7 are extremely scarce, mainly residing in the hands of Class III stores or individuals who for one reason or another got a demo box of it.
Posted 11/07/09 at 09:30am
Austin_Lewis: There are other firearms that fire the 5.7. However, I too would like to know where he got the ammo and what kind was used. Maybe Hasan, planning not to live through this, went out and bought one the boxes of SS190 that are floating around in
Posted 11/07/09 at 08:44am
JDKJ: And it isn't yet clear what type of ammunition Hasan used. It's strange that he purchased a gun but didn't purchase ammunition for it at the same place and time. Especially because the calibre required is peculiar to the actual gun.
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