Midway is Sold for Pennies on the Dollar

December 1, 2008 -

Financially-troubled game publisher Midway has been sold for a mere pittance of its former value.

Reuters reports that media tycoon Sumner Redstone (left) unloaded his controlling interest in the Mortal Kombat publisher for $0.0012 a share, or about $100,000.

Hell, at that price any gamer with a full-time job could have gotten a loan and owned their own game company.

The buyer is investor Mark Thomas. In addition acquiring Midway's assets, however, Thomas also bought himself $70 million worth of Midway debts.

In doing the deal Redstone, 85, takes a huge loss on his initial investment in Midway but realizes an $800 million tax saving for his media conglomerate, National Amusements.

As for Mark Thomas, in a year or two we might be toasting him as the man who saved Midway. Or, he could be the answer to the trivia question, "Who was Midway's final owner?"


Comments

Re: Midway is Sold for Pennies on the Dollar

Aple 3G İphone travesti enter travesti blog willent travesti english you travesti off bu yea travesti kilchars travesti vailend bu travesti i like the travesti older shup travesti naile shemale travesti denche travesti klass chi travesti istanbul escort eskort hvaile escort the sub porno izle inc porno izle edit porno izle vulletn porno izle older year porno izle siple bedava in porno izle Nofo Glad Yopu

Re: Midway is Sold for Pennies on the Dollar

thank you admin

msn show parça tl

Re: Midway is Sold for Pennies on the Dollar

Hey there, thank you for the heads up on this I really appreciate that you took time to share this thing with the readers, going to bookmark your blog right away! And one thing is defibitely right " Midway is solid for pennies on the dollar" Freestyle Medela

 

Re: Midway is Sold for Pennies on the Dollar

$0.0012 a share" I could have got couple shares at this price :)

________________

Marketing Paper

Re: Midway is Sold for Pennies on the Dollar

film izle

 

Great thoughts and great ideas for accounting.

Re: Midway is Sold for Pennies on the Dollar

Great thoughts and great ideas for accounting.

Accounting papers

Re: Midway is Sold for Pennies on the Dollar

Thanks good job;

Btw, I think Atari and Midway will drop out too, but mostly travesti because  these guys have done nothing travesti or little and need to start saving costs. and dizi izle

YES.

Now I don't have to get off my ass for the important shit anymore!

Whats next, ordering pizza from Xbox live?

Wait... I think that sounds like a good idea.

But I think voting should MAKE you get off your ass, and see outside or a second while you go vote. I mean, your picking the president of the United States of America for God's Sake... least you can do is drive down there and punch out a card.

 

Re: Midway is Sold for Pennies on the Dollar

I'm all for freedom of ttnet vitamin speech and allowing rent a car game makers to put whatever they want in games, but there's one thing about this app that has me scratching my head.  Correct me if I'm wrong, but from araç kiralama the previous article araba kiralama on this I gathered that players can use Google maps in-game to find the other (real-life?) dealers in their area.  If this is the case, has travesti anyone considered what's stopping someone from using this app to actually move drugs between hands for reals?

But majority araba kiralama of their outrage araç kiralama stems from what it could DO TO children, not the content itself.  Talk to one of these people and you'll find they don't think any books kiralık araba should be banned from children.  Mention American Psycho and they talk about kiralık araç the redeeming value of using imagination to construct a story.  Reading, no matter what the content, is largely viewed as a consequenceless activity for people of any age.  The reason why I mention American Psycho is because of the content itself.  Gaming never has and likely never will have any scenes where someone has sex with a severed head.  Not gonna happen.  Yet despite this, they'll fight tooth and nail to protect their children from two boys kissing in Bully but whatever they read is harmless... yeah.

The entire arguement is kiralık oto based upon a social normality inflicted by luddites who can't figure out the controls for Halo so it's frightening and terrifying and obviously the cause of youth violence on the rise even though, in reality, it's in decline (which is actually a HUGE suprise given minibüs kiralama the economies status).  In  a perfect world, we would have parents that actually parent.  The idea of sales restrictions on media on oto kiralama any form to accomidate parental unwillingness to get involved with their child's life is the real problem to me.  Here I am, 32 years old, and being held up at a self-scan rent a car needing to show ID before I can buy a $10 M rated game all because Soccer Momthra can't be bothered to look at the crap Billy Genericallystupidson does in his free time.  It's too hard for her, so I have to suffer?

Re: Midway is Sold for Pennies on the Dollar

Re: Midway is Sold for Pennies on the Dollar

This might be good news. The IP the company owns is very robust, and carefully planned Virtual Console/Playstation Network/Live Arcade releases would tackle a chunk of debt right there. What the company needed to dp before getting to the point where it was offloaded so cheaply was a revival of the classic series.

The Cruisin' series begged for a VC release, at least... If not a new entry.

Re: Midway is Sold for Pennies on the Dollar

Midway sold that cheap? Wow. I have a friend who is an Mortal Kombat fan who could have probably qualified for that loan.

Re: Midway is Sold for Pennies on the Dollar

I would buy Midway, bring back Ready2Rumble, and use my new innovative ideas for a fighting game to be used with the MC license. I have some great ideas that I would love to try.

Re: Midway is Sold for Pennies on the Dollar

If Atari can turn it around fast enough, I would love to see a reunified Atari Corp.

Someday...

Re: Midway is Sold for Pennies on the Dollar

I would buy Midway, bring back Ready2Rumble, and use my new innovative ideas for a fighting game to be used with the MC license. I have some great ideas that I would love to try.

----------

Film izle - video izle

Re: Midway is Sold for Pennies on the Dollar

I hope he does not tone down the next MK game. :(

Re: Midway is Sold for Pennies on the Dollar

That sucks... I like Midway...

 

If they want to cash in on a sequel, I'd like to see another Hydro Thunder.

--- Official Protector of Videoland!

--- Official Protector of Videoland!

Re: Midway is Sold for Pennies on the Dollar

Shit, I would've bought midway at that price.

My solution?  NEW SMASH TV FOR EVERYONE, BITCHES!

Re: Midway is Sold for Pennies on the Dollar

no bank in thier right mind would have loaned you the money without wanting to see some financial statements.

and once they'd seen them.... You'd never get the loan.

Re: Midway is Sold for Pennies on the Dollar

How to save Midway:

1) Put new/better talent on the MK team: MK vs DCU looked & played like an XBox1/PS2 game.  Hell, try and get better talent alltogether.  TNA Impact! should have been so much better...

2) Tap into your classic properties Capcom-style.  A new hi-res remake of Smash TV would do well on XBLA and PSN.

3) Stop taking risks with new IP for now.  Blacksite: Area 51 should not have been released given its quality.

Re: Midway is Sold for Pennies on the Dollar

DAMN! I wish I had known. I would done the same thing in a heartbeat. The IP Midway controls could easily generate big money. Some guys have all the luck...

---------------------------------------------------------------------------

"The most difficult pain a man can suffer is to have knowledge of much and power over little" - Herodotus

--------------------------------------------------------------------------- "The most difficult pain a man can suffer is to have knowledge of much and power over little" - Herodotus

Re: Midway is Sold for Pennies on the Dollar

I dont think so world is ready to see one more bankrupt.

http://www.blueunplugged.com/p.aspx?p=122588

Wii Games

 

 

Re: Midway is Sold for Pennies on the Dollar

Suck it, Redstone!

---You are likely to be eaten by a Grue.

---You are likely to be eaten by a Grue.

Re: Midway is Sold for Pennies on the Dollar

This is sad. Midway at one point was a decent publisher. They don't deserve this end.

I would hope a new owner would be able to turn them around before they go bankrupt.

E. Zachary Knight
Oklahoma City Chapter of the ECA
MySpace Page: http://www.myspace.com/okceca
Facebook Page: http://www.facebook.com/profile.php?id=1325674091

Re: Midway is Sold for Pennies on the Dollar

that's like saying teh BeeGee's used to put out good music.... while it's true, it's been a while....

Re: Midway is Sold for Pennies on the Dollar

he spent a hundred grand, to buy 70 million in debt.....

He'd better have a few.... i mean 70 million, aces up his sleeve.

Forgot your password?
Username :
Password :

Poll

How do you feel about microtransactions in $60 video games?:

Shout box

You're not permitted to post shouts.
Goth_SkunkA GameDev's Year With #GG: The Good, The Bad, and The Ugly by Adrian Chmielarz - http://ow.ly/RwSCd08/29/2015 - 5:18am
Goth_SkunkDespite not being a fan of fighting games I had to check out that R Mika trailer. Loved it. Still won't buy the game though, on account of Isuckatstreetfighteritis.08/29/2015 - 2:42am
MechaCrashI use a Dynex DX-840 headset, but it's discontinued. :( I wanted a mono headset so I could keep the other ear free for my speakers, but it has the bonus of being very light and comfortable, so you don't notice it.08/29/2015 - 12:41am
Big PermSora - I was just having a slow day at work earlier. Now I'm home with vidya!08/28/2015 - 7:54pm
ZippyDSMleeSora-Chan: Blender is easy compared to 3Dmax :P08/28/2015 - 6:51pm
Sora-Chantime to take up a hobby? maybe messing around in GIMP to make wallpapers? use qCAD to design somethin? open Blender and stare at it for a couple hours trying to figure what does what?08/28/2015 - 6:41pm
Big PermAlso, yes. I've been spamming the shoutbox. I don't have much going on today, don't judge me08/28/2015 - 3:25pm
Big PermThanks, but yeah. Not sure I wanna drop that kind of cash :P I don't even mind the sound quality of my krakens, it just hurts to wear em after a couple hours.08/28/2015 - 3:25pm
Sora-Chan@Big Perm: I'm a bit of a fan of the Omega Recon3D headset from SoundBlaster. Though it is a bit expensive.08/28/2015 - 2:36pm
Big PermI actually need to look into a new headset. I have those green razer krakens and I would not suggest them. Though maybe they're better for people without glasses08/28/2015 - 11:32am
Big PermI've never heard if Apple was dominant in Japan.08/28/2015 - 11:25am
E. Zachary KnightBeats by Dre? If music videos are anything to go by, they are the only headphones in existence.08/28/2015 - 11:21am
Big PermI wonder what kind of headphones she has08/28/2015 - 11:13am
Andrew EisenMy favorite fighter character/costume of late is Lucky Chloe from Tekken 7.08/28/2015 - 10:59am
Big PermYou might be right, Zippy08/28/2015 - 9:21am
ZippyDSMleeBig Perm: Naw best ever goes to kill la kill!08/28/2015 - 9:14am
Big PermHer costume is amazing. It may be the best costume ever08/28/2015 - 8:30am
E. Zachary KnightLike I said, she looks like a fun character to play, but her costume is really obnoxious.08/28/2015 - 8:29am
MattsworknameMika was always about being a show off and using her but to crush her foes, even back in the alpha days. They just took that and maxed it to the extreme, and I LOVE IT!!!!!08/28/2015 - 5:36am
IvresseJust saw R Mika trailer myself. I do like the inclusion of Vega as the punching bag, especially with that Stone Cold Stunner knocking his mask off....but that ultra move with his face between 4 buttcheeks...class! :-)08/28/2015 - 5:20am

Be Heard - Contact Your Politician