Midway bankruptcy countdown: T-minus 50 days
Since Sumner Redstone sold his 87% controlling stake in Chicago developer/publisher Midway for $100,000, things haven’t looked so good for the company that brought us Mortal Kombat. In fact, you could say it’s headed for a FATALITY within 50 days.
You see, a change in majority ownership at Midway means that bondholders can demand repayment on their investment in a 50 day time period; that investment stands at $150 million. According to Variety, Midway only has $10 million.
Is there any hope for a bailout? Probably not. Even though Mortal Kombat vs. D.C. Universe seems to be doing well, it’s doubtful anyone is willing to swoop in with a guarantee of $150 million to investors in this climate.
The fact that Mark Thomas was willing to buy Redstone’s stake seems odd too, until you figure that he may have designs on selling or licensing the various IPs that Midway owns. All in all, it’s a bad situation for Midway.
Read: Midway may default on $240 million in debt
20. April 2011 at 3:59 pm :
[...] o primeiro título da série. O jogo estreou nos arcades, desenvolvido pela Midway (que em 2009 declarou falência e está atualmente liquidando todos os seus bens e sendo desmantelada), e tinha como diferencial os [...]