Home › DMW Daily › May 21, 2009

Warner Bros. Bids $33 Million for Midway Games Assets

Authored by Mark Hefflinger on May 21, 2009 - 9:08am.
Chicago - Bankrupt video game publisher Midway Games (NYSE: MWY) said on Thursday that Time Warner's (NYSE: TWX) Warner Bros. Entertainment has bid $33 million for the majority of its assets, including the "Mortal Kombat" franchise. Chicago-based Midway declared bankruptcy in February, after chairman Sumner Redstone sold off his majority stake in the company.

The "stalking horse" asset purchase agreement with Warner Bros. is essentially the first bid in an auction process for Midway's assets.

Warner's offer does not include Midway assets such as its "TNA" franchise games, or its development studios in San Diego and Newcastle, England.

 

Related Links:
http://www.businesswire.com/news/home/20090521005534/en

http://www.midway.com

Published in DMW Daily, May 21, 2009
tags: Games | Deals | Acquisitions | Midway Games | Mortal Kombat | Bankruptcies | Warner Bros. Entertainment |



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