PlayStation Universe

Warner Bros. makes bid for Midway

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on 22 May 2009

It looks like the ailing Midway may finally have a buyer. The company announced today that Warner Bros. has offered to buyout most of its studios for more than $33 million USD.

The buyout would include rights to Mortal Kombat and Midway’s Chicago and Seattle studios; however, it would not include the San Diego or Newcastle studio, or rights to the TNA wrestling franchise since Midway has a multi-year, multi-game contract for the TNA series. Warner Bros. would also get rights to Wheelman, which was developed in Newcastle.

Other companies have shown interest in buying Midway (which filed for bankruptcy in February), including Ubisoft and a private Chicago investor. The Warner Bros. offer requires a court to approve the bid, at which point other investors can make a bid on portions of the company, or the whole thing.