Midway Files for Chapter 11
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.
A PUBLICATION OF THE ECA
SUBSCRIBE
LOGIN / REGISTER
Crispy Gamer
GamePolitics ShoutBox
Posted 07/30/10 at 10:25am
ZippyDSMlee: No lan too but that will be hack in, with 2X maps its as big as SC,so....want more now ;P
ZippyDSMlee: No lan too but that will be hack in, with 2X maps its as big as SC,so....want more now ;P
Posted 07/30/10 at 10:19am
Rodrigo Ybáñez García: @Cheater: Thank you, I´ll try it later. It happened after I installed the new upgrade, btw
Rodrigo Ybáñez García: @Cheater: Thank you, I´ll try it later. It happened after I installed the new upgrade, btw
Posted 07/30/10 at 01:27am
Andrew Eisen: I got hired to sing bass for an a cappella group tomorrow night. I have nine songs to learn. Yikes.
Andrew Eisen: I got hired to sing bass for an a cappella group tomorrow night. I have nine songs to learn. Yikes.
Posted 07/29/10 at 10:53pm
E. Zachary Knight: Zippy, I thought SC2 was only 1/3 of a game? ;)
E. Zachary Knight: Zippy, I thought SC2 was only 1/3 of a game? ;)
Posted 07/29/10 at 08:59pm
ZippyDSMlee: SC2 is god! BOW DOWN TO SC2!
ZippyDSMlee: SC2 is god! BOW DOWN TO SC2!
Posted 07/29/10 at 07:50pm
Cheater87: Garcia that sounds like a A/V problem. Try turning the TV on and off or doing that with the AV changer. Thats how I fix mine.
Cheater87: Garcia that sounds like a A/V problem. Try turning the TV on and off or doing that with the AV changer. Thats how I fix mine.
Posted 07/29/10 at 06:50pm
Andrew Eisen: The urinals now have floor mats!
Andrew Eisen: The urinals now have floor mats!
Posted 07/29/10 at 04:54pm
Rodrigo Ybáñez García: My PS3 is having some kind of failure. The sound is still there but the image is totally out...
Rodrigo Ybáñez García: My PS3 is having some kind of failure. The sound is still there but the image is totally out...
Posted 07/29/10 at 03:39pm
ZippyDSMlee: SC2!!SC2!!!SC2!!!!!!
ZippyDSMlee: SC2!!SC2!!!SC2!!!!!!
Posted 07/28/10 at 02:45pm
beemoh: Farmville creator Zynga closes one of its games, customers who paid for in-game content unimpressed (Link)
beemoh: Farmville creator Zynga closes one of its games, customers who paid for in-game content unimpressed (Link)
Posted 07/28/10 at 09:49am
Rodrigo Ybáñez García: He blames the internet, but not his abusive mother.
Rodrigo Ybáñez García: He blames the internet, but not his abusive mother.
Posted 07/28/10 at 09:48am
Rodrigo Ybáñez García: Akihabara murderer blames cyber bullying for rampage in 2008
Rodrigo Ybáñez García: Akihabara murderer blames cyber bullying for rampage in 2008
Posted 07/27/10 at 02:49pm
E. Zachary Knight: Holy Awesome Game Trailers Batman. Superman heat visioning people in the face and Jedi using Hadouken. Awesome.
E. Zachary Knight: Holy Awesome Game Trailers Batman. Superman heat visioning people in the face and Jedi using Hadouken. Awesome.
Posted 07/27/10 at 01:36pm
ZippyDSMlee: Ah I didnt see it down there :P
ZippyDSMlee: Ah I didnt see it down there :P
Posted 07/25/10 at 01:51pm
ZippyDSMlee: Cheater87:I do not think they see the need for it its a shame its more needed than E10.....
ZippyDSMlee: Cheater87:I do not think they see the need for it its a shame its more needed than E10.....
Posted 07/24/10 at 08:19pm
Cheater87: Zippy I sent them an email about a 15 age category a year or so ago and they said they had no plans for one at the moment. I'll send another one and see if they respond back again.
Cheater87: Zippy I sent them an email about a 15 age category a year or so ago and they said they had no plans for one at the moment. I'll send another one and see if they respond back again.
Copyright © 2007 ECA. All rights reserved.
Game Politics and Game Politics logo are trademarks of the ECA.
Game Politics and Game Politics logo are trademarks of the ECA.
Comments
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
Sadly everyone saw this a mile away... No surprise what so ever.
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
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.
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
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
Isn't this the company that was just bought for 100,000 dollars?
That's the one.
E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma
Urgh. Another victim of this economic climate. It's a shame.
M. Carusi
Capitol Gaming
http://capitolgaming.blogspot.com
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
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
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.
i cant imagine how nobody has said this yet but...
FATALITY!
-The Bird