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?"
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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.
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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that's like saying teh BeeGee's used to put out good music.... while it's true, it's been a while....
Suck it, Redstone!
---You are likely to be eaten by a Grue.
I dont think so world is ready to see one more bankrupt.
http://www.blueunplugged.com/p.aspx?p=122588
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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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"The most difficult pain a man can suffer is to have knowledge of much and power over little" - Herodotus
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.
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.
Shit, I would've bought midway at that price.
My solution? NEW SMASH TV FOR EVERYONE, BITCHES!
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!
I hope he does not tone down the next MK game. :(
If Atari can turn it around fast enough, I would love to see a reunified Atari Corp.
Someday...
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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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.
Midway sold that cheap? Wow. I have a friend who is an Mortal Kombat fan who could have probably qualified for that loan.
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.
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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?
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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.
Great thoughts and great ideas for accounting.
Accounting papers
thank you admin
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Great thoughts and great ideas for accounting.
$0.0012 a share" I could have got couple shares at this price :)
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