Midway Files for Chapter 11

February 12, 2009

Financially-troubled Midway Games has filed for Chapter 11 bankruptcy protection.

A Midway press release announced the move, which applies only to the company's U.S. operations. Despite the bankruptcy filing, CEO Matt Booty remains optimistic:

This was a difficult but necessary decision... this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives...

Midway enters this process with strong underlying fundamentals, as evidenced by solid fourth quarter sales that exceeded expectations in spite of a challenging retail and general economic environment. Overall, Mortal Kombat vs. DC Universe sales are approaching two million units shipped, TNA iMPACT! has shipped approximately one million units, and our Game Party franchise has sold close to three million units in total.

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Comments

Re: Midway Files for Chapter 11

Submitted by TheBird on Thu, 02/12/2009 - 22:19.

i cant imagine how nobody has said this yet but...

FATALITY!

-The Bird

Re: Midway Files for Chapter 11

Submitted by DavCube on Thu, 02/12/2009 - 18:48.

I say it's about time. Though, some people from back in the day before the ESRB are doing a TINY little victory jig right about now.

Re: Midway Files for Chapter 11

Submitted by Parallax Abstraction on Thu, 02/12/2009 - 16:08.

Midway's been in a bad way for years. They haven't turned a profit in like 6 years and have released pretty much nothing but bombs for a long time now (though funny enough, MK vs. DC has apparently done like 1.5 million.) Unfortunately, they kept the lousy leadership team that led them here for far too long and now they're here. At least they're trying to reorganize. I hope they come out of this well because we need more publisher competition, not less.

Parallax Abstraction
Ottawa, Ontario, Canada
blog.digital-lifeline.ca

Parallax Abstraction
Ottawa, Ontario, Canada

Re: Midway Files for Chapter 11

Submitted by M. Carusi on Thu, 02/12/2009 - 14:48.

Urgh. Another victim of this economic climate. It's a shame.

M. Carusi

Capitol Gaming

http://capitolgaming.blogspot.com

Re: Midway Files for Chapter 11

Submitted by ZippyDSMlee on Thu, 02/12/2009 - 15:42.

They were in trouble befor then....

Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.

http://zippydsmlee.wordpress.com

---

http://zippydsm.deviantart.com/

Re: Midway Files for Chapter 11

Submitted by SeanB on Thu, 02/12/2009 - 14:37.

Isn't this the company that was just bought for 100,000 dollars?

Re: Midway Files for Chapter 11

Submitted by E. Zachary Knight on Thu, 02/12/2009 - 15:04.

That's the one.

E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma

E. Zachary Knight
Divine Knight Gaming
OK Game Devs
Random Tower

Re: Midway Files for Chapter 11

Submitted by HarmlessBunny on Thu, 02/12/2009 - 14:05.

Sadly everyone saw this a mile away... No surprise what so ever.

==============

James Fletcher, member of ECA Canada

Re: Midway Files for Chapter 11

Submitted by JustChris on Thu, 02/12/2009 - 18:05.

My town's dying gasp of big game developers :-(

Is game code just a natural resource that can only be found in big quantities in the West Coast? Is that why the rest of the nation has bad luck for game development?

GameSnooper

Re: Midway Files for Chapter 11

Submitted by E. Zachary Knight on Fri, 02/13/2009 - 10:18.

No game developers are a resource that seems to only be found on the West Coast. Sure some migrate out, but most simply flock together.

E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma

E. Zachary Knight
Divine Knight Gaming
OK Game Devs
Random Tower

Re: Midway Files for Chapter 11

Submitted by JC on Thu, 02/12/2009 - 15:40.

Not really, everyone was expecting Midway to be liquidated.... this isn't the case though, they still want to live and thrive which is why they are filing under chapter 11 instead of 7.

Re: Midway Files for Chapter 11

Submitted by ZippyDSMlee on Thu, 02/12/2009 - 14:16.

I bet no one forsaw S/E offerign 84B for Edios!

Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.

http://zippydsmlee.wordpress.com

---

http://zippydsm.deviantart.com/

Re: Midway Files for Chapter 11

Submitted by ZippyDSMlee on Thu, 02/12/2009 - 13:59.

Oh noooowwwwwww your doing dev closeings *rolls eyes*

Oh wait thier not closing....

This is a sign of things to come as cost of development will hurt the indutry bit by bit.

Anyway How bad is MK/DC? Did they even try to polish the controls any?

Gore,Violence,Sexauilty,Fear,Emotion these are but modes of transportation of story and thought, to take them from society you create a society of children and nannys, since adults are not required.

http://zippydsmlee.wordpress.com

---

http://zippydsm.deviantart.com/

Poll

Shout box

DorthLous: Anybody tried Hiversaire? Thoughts?05/22/2013 - 5:48pm

E. Zachary Knight: New Humble Bundle Weekly Sale. Alan Wake: https://www.humblebundle.com/weekly No Linux or Mac support. :(05/22/2013 - 1:46pm

E. Zachary Knight: Microsoft talks about the lack of backward compatability. You're backwards. http://www.gamasutra.com/view/news/192801/If_youre_backwards_compatible_youre_really_backwards.php05/22/2013 - 1:39pm

E. Zachary Knight: That is absolutely nuts there. As bad an experience XBox Indie Games was, the problems weren't with the self published side of things. Forcing a publisher onto independent studios is not going to help.05/22/2013 - 10:43am

MaskedPixelante: http://www.eurogamer.net/articles/2013-05-22-microsoft-wont-let-indies-self-publish-on-xbox-one And the hits just keep on coming.05/22/2013 - 9:20am

E. Zachary Knight: AE: You beat me to it. That's what I get for taking the night off.05/22/2013 - 7:40am

E. Zachary Knight: To continue the confused and convoluted messaging system present in EA, They are making Wii U games: http://www.gamasutra.com/view/news/192753/EA_is_working_on_Wii_U_games_after_all.php05/22/2013 - 7:33am

Imautobot: I gotta admit, I seriously believed Microsoft was going to "Bring It" with this new console. But they failed, and I think that failure might be Epic.05/22/2013 - 7:27am

Andrew Eisen: Well, the Xbox One reveal certainly had an interesting affect on the big 3's stock prices. https://twitter.com/AndrewEisen/status/33705126448977100805/21/2013 - 10:45pm

PHX Corp: http://kotaku.com/so-the-xbox-one-reveal-screwed-up-a-lot-of-peoples-kin-509179256 So The Xbox One Reveal Screwed With Some People's Kinects05/21/2013 - 10:36pm

Zen: On a funny side note...both of my boys have already voted NOT to get the Xbox One as soon as they found out Minecraft won't transfer lol. Some people have priorities damnit! ;)05/21/2013 - 9:27pm

Andrew Eisen: Here's the full quote on EA making Wii U games according to Neogaf: http://www.neogaf.com/forum/showthread.php?t=56112105/21/2013 - 8:19pm

Andrew Eisen: Xbox One may not be always on but that doesn't mean you can use it without an internet connection. http://kotaku.com/xbox-one-does-require-internet-connection-cant-play-o-50916410905/21/2013 - 7:39pm

Andrew Eisen: Polygon says EA's CFO says it is developing games for Wii U but doesn't provide that quote. http://www.polygon.com/2013/5/21/4351844/ea-developing-wii-u-games05/21/2013 - 7:11pm

Andrew Eisen: Well, I was right. Both Sony and Microsoft's consoles will be out by the year's end and both will be significantly more powerful than the current gen.05/21/2013 - 5:06pm

james_fudge: thnx05/21/2013 - 4:47pm

Zen: Just to let ya know...you called it the "Xbox 260" in the backwards compatibility article lol.05/21/2013 - 4:26pm

Zen: @PHX Awesome, I will hit those up after class tonight. Going back to college finally! :) My kids have had a blast telling ME to do my homework now lol.05/21/2013 - 4:19pm

PHX Corp: @Zen I sent you a friend request on both PSN and XBL, just a heads up05/21/2013 - 4:16pm

Zen: I noticed it with the football players when EA showed off Madden as well.05/21/2013 - 4:11pm

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