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.

---

Patreon

Deviantart

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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PHX Corphttp://kotaku.com/halo-mcc-esports-event-canceled-because-the-game-would-1700543158 Halo: MCC eSports Event Canceled Because The Game Wouldn't Work04/27/2015 - 10:15pm
Matthew Wilson@AE I know I was just stating where I stand on issues like that in general04/27/2015 - 8:12pm
Andrew EisenWho, Colin Cowherd? No one's suggesting he should be forced out. Or that he should commentate on video games.04/27/2015 - 8:10pm
Matthew Wilson@AE I do not think he should be forced ou though. he has his right to his opinion and shouldnt be forced out because people disagree with it.04/27/2015 - 8:07pm
ZippyDSMleeJim suggjested a pay what you want setup like humble bundel.04/27/2015 - 7:49pm
MontePerhaps they should just add a donation system for creators like the monthly pateron model. Only those who regularly make quality content can get compensated while those who would abuse the system are ignored04/27/2015 - 7:46pm
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Andrew EisenYeah, working on that story now. Or rather, I'm working on finding time to write up that story.04/27/2015 - 7:40pm
Matthew Wilsonhttps://www.youtube.com/watch?v=Dll8eMJnTEE this crap is why sports fans and gamers dont get along. for love of god did I get sent back to 1995.04/27/2015 - 7:37pm
Matthew WilsonI do not think it will be the last time we see this. btw I am ok with paid mods.04/27/2015 - 7:10pm
ZippyDSMleehttp://www.pcgamer.com/valve-has-removed-paid-mods-functionality-from-steam-workshop/ 0_o04/27/2015 - 6:37pm
ZippyDSMleeMatthew Wilson:Humor and sarcasm sir.04/27/2015 - 6:36pm
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ZippyDSMleeCutesy name for motherboard. My 300$ mobo fried itself one night...04/27/2015 - 4:23pm
Andrew EisenNo problem. No idea what a mobo is but it's easy to overlook stuff in the Shout box.04/27/2015 - 4:18pm
ZippyDSMleeAndrew Eisen:Ah sorry, last 2-4 days I been dealing with a dead mobo then my new laptop came in trying to get it up to date and stuff transferred over....blag04/27/2015 - 4:16pm
Andrew EisenAlready linked about 10 shouts ago.04/27/2015 - 4:00pm
ZippyDSMleehttp://www.polygon.com/2015/4/27/8503893/konami-delists-itself-from-new-york-stock-exchange This just in Konami and Capcom merge so they can ignore more IP's.04/27/2015 - 3:50pm
E. Zachary KnightNot really. I think people are overly critical of other game projects. Delays should be expected and shouldn't be considered a major failing and worthy of the crap they get.04/27/2015 - 3:09pm
Matthew WilsonI agree that Double Fine gets off way too easy compared to others.04/27/2015 - 2:40pm
 

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