Midway is Sold for Pennies on the Dollar

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?"

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  1. 0
    chris251984 says:

    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


  2. 0
    desperad0 says:

    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


    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.


  3. 0
    oto kirlama says:

    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?

  4. 0
    Frommonday says:

    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.

  5. 0
    KayleL says:

    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.

  6. 0
    VideolandHero says:

    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!

  7. 0
    SeanB says:

    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.

  8. 0
    E. Zachary Knight says:

    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

    E. Zachary Knight
    Divine Knight Gaming
    Oklahoma Game Development
    Rusty Outlook
    Random Tower
    My Patreon

  9. 0
    Zerodash says:

    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.

  10. 0
    Spartan says:

    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

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