Midway Files for Chapter 11

February 12, 2009 -

Financially-troubled Midway Games has filed for Chapter 11 bankruptcy protection.

A Midway press release announced the move, which applies only to the company's U.S. operations. Despite the bankruptcy filing, CEO Matt Booty remains optimistic:

This was a difficult but necessary decision... this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives...

Midway enters this process with strong underlying fundamentals, as evidenced by solid fourth quarter sales that exceeded expectations in spite of a challenging retail and general economic environment. Overall, Mortal Kombat vs. DC Universe sales are approaching two million units shipped, TNA iMPACT! has shipped approximately one million units, and our Game Party franchise has sold close to three million units in total.


Comments

Re: Midway Files for Chapter 11

i cant imagine how nobody has said this yet but...

FATALITY!


-The Bird


-The Bird

Re: Midway Files for Chapter 11

I say it's about time. Though, some people from back in the day before the ESRB are doing a TINY little victory jig right about now.

Re: Midway Files for Chapter 11

Midway's been in a bad way for years.  They haven't turned a profit in like 6 years and have released pretty much nothing but bombs for a long time now (though funny enough, MK vs. DC has apparently done like 1.5 million.)  Unfortunately, they kept the lousy leadership team that led them here for far too long and now they're here.  At least they're trying to reorganize.  I hope they come out of this well because we need more publisher competition, not less.

Parallax Abstraction
Ottawa, Ontario, Canada
blog.digital-lifeline.ca

Parallax Abstraction
Ottawa, Ontario, Canada

Re: Midway Files for Chapter 11

Urgh.  Another victim of this economic climate.  It's a shame.

M. Carusi

Capitol Gaming

http://capitolgaming.blogspot.com

Re: Midway Files for Chapter 11

They were in trouble befor then....



Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.


http://zippydsmlee.wordpress.com


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Re: Midway Files for Chapter 11

Isn't this the company that was just bought for 100,000 dollars?

Re: Midway Files for Chapter 11

That's the one.

E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma

Re: Midway Files for Chapter 11

Sadly everyone saw this a mile away... No surprise what so ever.

Re: Midway Files for Chapter 11

My town's dying gasp of big game developers :-(

Is game code just a natural resource that can only be found in big quantities in the West Coast? Is that why the rest of the nation has bad luck for game development?

GameSnooper

Re: Midway Files for Chapter 11

No game developers are a resource that seems to only be found on the West Coast. Sure some migrate out, but most simply flock together.

E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma

Re: Midway Files for Chapter 11

Not really, everyone was expecting Midway to be liquidated.... this isn't the case though, they still want to live and thrive which is why they are filing under chapter 11 instead of 7.

Re: Midway Files for Chapter 11

I bet no one forsaw S/E offerign 84B for Edios!

 


Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.


http://zippydsmlee.wordpress.com


Copyright infringement is nothing more than civil disobedience to a bad set of laws. Let's renegotiate them.

---

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Re: Midway Files for Chapter 11

Oh noooowwwwwww your doing dev closeings *rolls eyes*

Oh wait thier not closing....

:P

This is a sign of things to come as cost of development will hurt the indutry bit by bit.

Anyway How bad is MK/DC? Did they even try to polish the controls any?

 

 


Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.


http://zippydsmlee.wordpress.com


Copyright infringement is nothing more than civil disobedience to a bad set of laws. Let's renegotiate them.

---

Patreon

Deviantart

 
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Matthew Wilson@AE the difference is in the case of marvel the writers and directors clearly understand the source content. I doubt many of any of them are that way with robotech, or any anime for that matter.03/27/2015 - 11:10am
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Andrew EisenMechaCrash - It's true, there are a lot of examples of crap adaptations. But there are increasing numbers of great adaptations such as the Marvel movies. That said, it's certainly going to be an uphill battle at Sony, especially with Tom Rothman around.03/27/2015 - 10:45am
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MechaCrashI meant Hollywood in general. If they did a Robotech movie, it'd just be a slightly tweaked Macross, because usually when people talk about Robotech, they just mean the first third. Nobody cares about the Masters/Southern Cross or Invid/MOSPAEDA stuff.03/27/2015 - 9:36am
ZippyDSMleeYes Macross is good..... robotech....not so much..... Now Pizza Cats that's the definitive TV dub, if not best dub ever I'd put it up there with COwboy Bebop just becuse the Pizza Cats dub is fun as heck and crazy,Medabots and Fighting Foodons are decent.03/27/2015 - 9:20am
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Andrew EisenMechaCrash - Sony in particular or Hollywood in general?03/26/2015 - 7:38pm
Matthew Wilson@mach no way in hell, so that is why I want them to stay away.03/26/2015 - 7:21pm
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Craig R.I'd take the NCAA seriously if they'd bite instead of bark03/26/2015 - 6:59pm
Andrew EisenConster - Sure, give me a few minutes.03/26/2015 - 3:05pm
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