Warner Bros. Ends Up Paying $49 Million for Midway Games

Authored by Mark Hefflinger on July 17, 2009 - 8:03am.

New York - Time Warner's (NYSE: TWX) Warner Bros. Entertainment paid a total of $49 million to acquire the assets of bankrupt video game publisher Midway Games, as opposed to the $33 million purchase price stated when the deal was announced in May, Gamespot reported, citing a regulatory filing.

The company is also laying off all 60 employees at Midway's Chicago headquarters; the layoffs don't affect the 100 or so staffers at Midway's Chicago game studio.

Previously, the "Mortal Kombat" developer shuttered game studios in San Diego and Newcastle, England.

Related Links:
http://snipurl.com/nfp1z (Gamespot)

http://snipurl.com/nfply (DMW previous coverage)

http://www.midway.com