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Baraka
Joined: 11/17/2006
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Category: Mortal Kombat General Discussion
Posted By: Fuzz
Posted On: Friday, July 3rd, 2009 01:59pm US EST
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The remaining Midway studios not included in Warner Bros.' acquisition, specifically Midway Newcastle (Wheelman, Necessary Force) and Midway San Diego (TNA, Blitz, NBA Ballers), will be closed down within 60 days if no other parties submit bids for them.
"We had a court hearing yesterday and the end result of that is the sale was approved and the closing will occur within the next 10 days," a Midway representative told us, continuing, "Since we didn't get any bids for the San Diego assets, we actually gave the employees a required 60-day warning." According to the US Department of Labor, employees of 100 or more person companies must be warned 60 days prior to being let go due to "plant closure" (or studio closure, in this case).
Source: Joystiq
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Category: Future Mortal Kombat
Posted By: Fuzz
Posted On: Monday, June 29th, 2009 06:16am US EST
Kredit(s): Flame Sama
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UPDATE: July 2nd, 2009
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It looks like Warner Bros. now officially owns a majority of Midway's assets, including the Mortal Kombat franchise.
A Delaware bankruptcy judge cleared several important hurdles in Midway Game's Chapter 11 bankruptcy proceedings today, approving the $33 million sale of most of the company's assets to Warner Bros. Entertainment Inc.
According to today's court filings, the judge also approved a settlement between Midway Games' creditors committee and the company's majority shareholder, Mark Thomas.
Source: Chicago Tribune
Series co-creator Ed Boon also posted the message "done deal" on Twitter.
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If everything goes according to plan, it appears Warner Bros. will eventually own a majority of Midway's assets, along with the Mortal Kombat franchise. According to the LA Times, Warner Bros.' $33 million bid was the only serious offer to buy the troubled video game publisher.
After Warner Bros. lobbed its offer in May, Midway had hoped to spark a bidding war that would jack up the price. A Chicago investment group and several game publishers had been kicking the tires at Midway, according to a source familiar with the discussions. But none pulled the trigger on a deal.
"No other bids came in, so there's not going to be an auction," confirmed Midway's spokesman, Geoff Mogilner.
However, the deal isn't set in stone, yet. There are still several issues that need to be resolved before the deal is finalized. One in particular comes from Larry Kasanoff, CEO of Threshold Entertainment, who claims they still have rights to the Mortal Kombat franchise.
So what does this mean now that Mortal Kombat will be officially owned by Wanrer Bros.? Will they let Boon and the MK Team keep their creative freedom, or are we going to get more wonky crossovers with WB owned characters and franchises? Only time will tell, I guess.
Foghorn Leghorn for DLC!!!
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