Tuesday, May 26, 2009

Warners Offers $33 Million For Midway Games...

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Warner Bros. has submitted a $33-million bid for the assets of Midway Games Inc., the video game publisher previously owned by Sumner Redstone.

Should the offer be approved, Warner will own Midway's intellectual property, including "Mortal Kombat", as well as game development studios in Chicago and Seattle.

Warner Bros. is one of four studios that has started investing in video game production, instead of licensing deals with publishers, spending hundreds of millions of dollars to acquire development studios and publish its own games, included "Lego Batman" and "F.E.A.R. 2: Project Origin".

The Warners deal has been led by Kevin Tsujihara, president of Warners home entertainment, that saw Warners buys shares in Eidos, the British maker of "Tomb Raider", ultimately purchased by Japanese publisher Square Enix for $120 million.

"Mortal Kombat", released in 1992, has generated more than $1.5 billion in revenue.

Midway also owns "Joust" and "Spy Hunter".

If its bid is successful, Warner Bros. would have the right to not only publish these video games but also adapt them into films or other media...