Midway Gets $40M to Support Manufacturing of Fall Games

Authored by Mark Hefflinger on September 19, 2008 - 7:57am.

Chicago - Video game publisher Midway Games (NYSE: MWY) announced on Friday that it has secured a factoring agreement with parent company National Amusements that will provide the company with up to $40 million to offset the cost of manufacturing its fall 2008 games lineup.

Under the terms, National Amusements will purchase accounts receivable up to a maximum of $40 million, "providing Midway with additional cash flow flexibility for manufacturing."

The company's fall 2008 games include "TNA iMPACT," "Blitz: The League II" and "Mortal Kombat vs. DC Universe."

"Midway's lineup for this holiday season represents an important launchpad for the company to regain market leadership," said Midway Games chair Shari Redstone.

"With the additional resources provided through this agreement, I believe Midway will be well positioned to capitalize on the release of these highly anticipated products and lay the foundation for the growth of these franchises."

 

Related Links:
http://www.businesswire.com/news/home/20080918006224/en

http://www.midway.com

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