Monday, July 06, 2009

Warners Takes Midway Games...

Click images to enlarge...

As we previously reported here and here, Warner Bros. has emerged as the winner of Midway Games' assets in bankruptcy court for $33 million, giving the studio complete rights to "Mortal Kombat," "Spy Hunter," "Joust" and several other game franchises, for development as possible feature films.

Midway filed for bankruptcy protection earlier this year, with Sumner Redstone selling his 87% stake to Mark E. Thomas last year for $100,000 and the assumption of $70 million of Midway debt.

Midway's creditors agreed last month to give Thomas a $5 million payment.

Warner Bros. purchased Snowblind Studios in February, "Lego" games producer TT Games in 2007 and Monolith Prods. in 2006.

The studio also owns a 30% stake in "Tomb Raider" publishers Eidos and assumed control of the "Lord of the Rings" franchise from Electronic Arts.

Integrating Midway will significantly expand the scope of Warner Bros. Interactive Entertainment, the studio’s small but growing video game division.