Midway Files For Chapter 11 Bankruptcy

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Dark Pulse

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Sep 12, 2004
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Neither new ownership, nor a delay on payments could prevent what some saw as simply inevitable - Midway has filed for Chapter 11 Bankruptcy.

After Midway was sold for a paltry $100,000, some investors were able to demand reimbursement due to the change in leadership. They initially had until mid-January to decide if they wanted to collect, but the deadline was postponed until February 19.

In all, Midway faces $240 million in debt, though only $150 million of that could be due by February 19. The company originally had until 2025 and 2026 to pay the money back.

The company plans to reorganize but "conduct its business operations as usual," with CEO Matt Booty noting that "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."
 

Grobut

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Oct 27, 2004
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I certainly wont miss Midway, now i just hope UT doesen't end up with the likes of EA, UBI, Activision and the like..
 

Grobut

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Oct 27, 2004
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Yeah imagine a game like UT actually receiving a good deal of marketing! The horror!

Nothing wrong with marketing, but it would come with a side order of DRM with limited activations, and possibly anual installments and BS payware expansions (that are just glorified patches with a couple of new skins tossed in, that sort of thing) you'll pretty much need to buy if you want to play.. you know, as is the style with thease guys.
 

Dark Pulse

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Sep 12, 2004
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Nothing wrong with marketing, but it would come with a side order of DRM with limited activations, and possibly anual installments and BS payware expansions (that are just glorified patches with a couple of new skins tossed in, that sort of thing) you'll pretty much need to buy if you want to play.. you know, as is the style with thease guys.
To be fair (and possibly play Devil's Advocate) those generally seem to happen with EA-developed titles, not EA-published ones.
 

GreatEmerald

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Jan 20, 2008
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Not sure about publishers, but they should really work with DE again... They have been with Epic since Epic Pinball, and when they no longer work with Epic, we get UT3 with almost no interest in it...
 

Grobut

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Oct 27, 2004
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I am sure I read somewhere that Ed Boon stated more Mortal Kombat games are on the way.... why would one create more MK games when studio/publisher is in the gutter?

That's common actually, most companies on the brink of death will usually tell you that everything's fine and dandy, and everything's proceeding as planned, because if they admitted they (or a company they rely on) are up the creek, stockholders/investors might panic and cut them off, and then they are dead for sure..
 

shoptroll

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Jan 21, 2004
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I'm guessing this is a weird joke, seeing how Valve isn't a publisher.

No but they do control probably the biggest distribution system for PC games outside of Amazon (and to a lesser extend GameStop, but have you seen the amount of shelf space they give PC games these days? :lol:)

If studios like Bit Blot, Introversion and other indie developers can do fine on Steam, certainly Epic can do the same. Time to strike out on your own again guys :)
 

GGA_Nate

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Jan 20, 2008
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Having your game available on steam is all fine and dandy (and probably the way pc game distributing is heading) but Epic cuts themselves off of a lot of sales by not having a boxed version available for retailers.
 

shoptroll

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Jan 21, 2004
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True, but retail is becomming increasingly irrelevant and the major retailers know the digital distribution train has already left the station. It's starting to happen with music and movies. Once GPD gets their heads out of their asses and starts to include online distribution of titles the numbers are going to look a lot differently for PC games.
 

[VaLkyR]Assassin

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Jan 20, 2008
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^ I'd still prefer a boxed version tbh. My connection isn't reliable enough to download a huge game (especially when they are getting larger and larger these days). Plus I'd need to pay alot more for connection as I'd probably need a lot higher monthly download allowance. It's alright if you're well off with plenty of money to burn.....
 
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Kazimira

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[VaLkyR]Assassin;2252040 said:
^ I'd still prefer a boxed version tbh. My connection isn't reliable enough to download a huge game (especially when they are getting larger and larger these days). Plus I'd need to pay alot more for connection as I'd probably need a lot higher monthly download allowance. It's alright if you're well off with plenty of money to burn.....

Online ordering may be whats neede for it then. The digital versions people dounload are used to fund makeing up the boxed up versions for those that order it that way.
 

TWD

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If Midway goes completely out, then I would assume that Epic would either go through EA Partners, or with Microsoft. I would bet that distribution through steam will be a much larger part of their publishing strategy as well.