Home › DMW Daily › July 2, 2009

Warner’s $33M Bid for Midway Games Close To Being Approved

Authored by Jay Baage on July 2, 2009 - 7:41am.
Chicago – Warner Bros. (NYSE: TWX) $33 million bid to buy "substantially all" the assets of Midway Games (NYSE: MWY) looks like its close to being approved. A Delaware bankruptcy judge said Wednesday that the objections to the Warner Bros. deal were resolved, clearing the way for the company to change owners, according to Chicago Tribune.

Midway Games, which is in Chapter 11 bankruptcy proceedings, has been in limbo for some time now as unsecured creditors committee and the company's majority shareholder, Mark Thomas, have been trying to reach an agreement.

Several companies had filed objections to the Midway asset sale, mostly over intellectual-property disputes. Those companies include Threshold Entertainment Inc., producer of the "Mortal Kombat" films, and Tigon Studios Inc., a production company founded by action star Vin Diesel, according to Chicago Tribune.

Related Links:
Chicago Tribune
Warner Bros
Midway Games

Published in DMW Daily, July 2, 2009
tags: Games | Deals | Law | Movies | Warner Bros. | Film | Midway Games | Chapter 11 |



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