Midway Games files for Chapter 11

[Zombie]

I was watching the Nightly Business Report this evening (one of the few shows I watch on a regular basis these days) and heard that Midway Games filed for Chapter 11 bankruptcy. I remembered Midway from back in the SEGA days of Mortal Combat and the likes and thought some of you might find this interesting. Here's one link and here's another. So for now, it looks like Midway will still exist until it restructures. If it can't (and I wouldn't doubt this is next unless a big company steps in and makes a bid) then it may file for Chapter 7 which is a complete sell-off of everything.

 

How would you like to have a name like "Matt Booty" though?

 

- Zombie

[Bomb Bloke]

Always a shame to see a games company die.

 

Though sometimes it even works out for the best... Psygnosis was bought out by Sony, who eventually dissolved the company on the basis that the PlayStation would make 'em more money. The result? All of Psygnosis's stuff is now pretty much open domain.

 

Dunno if that'll happen with Midway, of course.

[Zombie]

Just to reiterate, this is only Chapter 11. Midway still exists and will continue to run as normal while the restructuring is being carried out. From what I read about Midway's problems though, it sounds rather grim. I don't see how a company could restructure enough to cover all that debt. Only time will tell.

 

- Zombie

[Gimli]

A few years ago people were laughing at Interplay. Plus it was chock full of lawsuits from ex-employees. But it survived somehow and it's back in business - for now.