Theme: Whispers in the Forest
Feb 12, 2009 1:42pm by Fuzz in Mortal Kombat General Discussion
Can't say we all didn't see this koming. Given Midway's financial troubles over the last few years, the once video game publishing giant has finally succumbed and filed for Chapter 11 bankruptcy protection. Now don't get too scared. This only means that they are seeking relief from creditors, and NOT getting ready to liquidate and go out of business."This was a difficult but necessary decision," said Midway Chairman, President and CEO Matt Booty. "We have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."
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Posted Feb 12, 2009 4:55pm by DAEGON 1
One more nail to the coffin...Posted Feb 12, 2009 5:12pm by Flame Sama
If it's any consolation, the last MK the made sucked.
Posted Feb 14, 2009 8:01pm by Fuzz
Here's a list of people Midway owes money to:
* Wells Fargo Bank - $150,000,000
* Acquisition Holdings Subsidiary - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
* National Amusements, Inc. - $20,147,864
* NBA Properties, Inc. - $17,294,849 (License/royalty settlement)
* Tangible Media, Inc. - $8,675,954
* Warner Bros. Interactive - $6,654,203
* Artificial Mind & Movement - $2,000,000
* Epic Games - $1,975,000 (License/Royalties)
* Walmart - $1,576,035
* Far Sight Technologies - $1,279,151
* Best Buy - $1,114,036
* Target - $934,156
* Technicolor Video Services - $637,769
* Toys R Us - $615,276
* Ditan/Synergex Canada - $578,316
* CBS Outernet - $314,600
* David Zucker - $300,000 (severance pay)
* Multi Packaging Solutions - $287,036
* A.A.F.E.S Headquarters - $276,314
* Kmart - $218,497
* Tigon Studios - $200,000(license/royalties)
* Hollywood Entertainment - $190,982
* TNA Entertainment - $160,000 (license/royalties)
* Professional Films, Inc. - $150,000
* Synergex - Latin America - $149,027
* Pioneer.JB Marketing - $133,353
* Eclipse Advertising - $132,687
* GameStop - $127,250
* Sear, Roebuck - $125,495
Also, here's Midway's bankruptcy filing, in case you're interested.
http://media.libsyn.com/media/gamepolitics/Midway-Chap11.pdf
* Wells Fargo Bank - $150,000,000
* Acquisition Holdings Subsidiary - $40,000,000 unsecured loan (Thomas is the mystery man who purchased Midway late in 2008)
* National Amusements, Inc. - $20,147,864
* NBA Properties, Inc. - $17,294,849 (License/royalty settlement)
* Tangible Media, Inc. - $8,675,954
* Warner Bros. Interactive - $6,654,203
* Artificial Mind & Movement - $2,000,000
* Epic Games - $1,975,000 (License/Royalties)
* Walmart - $1,576,035
* Far Sight Technologies - $1,279,151
* Best Buy - $1,114,036
* Target - $934,156
* Technicolor Video Services - $637,769
* Toys R Us - $615,276
* Ditan/Synergex Canada - $578,316
* CBS Outernet - $314,600
* David Zucker - $300,000 (severance pay)
* Multi Packaging Solutions - $287,036
* A.A.F.E.S Headquarters - $276,314
* Kmart - $218,497
* Tigon Studios - $200,000(license/royalties)
* Hollywood Entertainment - $190,982
* TNA Entertainment - $160,000 (license/royalties)
* Professional Films, Inc. - $150,000
* Synergex - Latin America - $149,027
* Pioneer.JB Marketing - $133,353
* Eclipse Advertising - $132,687
* GameStop - $127,250
* Sear, Roebuck - $125,495
Also, here's Midway's bankruptcy filing, in case you're interested.
http://media.libsyn.com/media/gamepolitics/Midway-Chap11.pdf
Posted Feb 15, 2009 9:58am by Giroro
.....
Fuck
That's A lot more than I imagine. But 40 million for Acquisition Holdings Subsidiary. Just...FUCK.
Fuck
That's A lot more than I imagine. But 40 million for Acquisition Holdings Subsidiary. Just...FUCK.
Posted Feb 17, 2009 8:09pm by Kaputski
Very depressing times we suffer... Hopefully they'll find some way to pull through this mess
Posted Feb 20, 2009 9:40pm by Major Logan
NOOO!!!!! 
Posted Feb 21, 2009 12:11pm by Flame Sama
And they were delisted from the NYSE...another nail in the coffin.
