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Midway has 50 days to rack up US$ 150 million or it's game over |
Listed in: News Tags: Midway Games, SEC
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Big trouble. Big, big trouble. Midway Games is in hot water now, trying to figure out how they can earn US$ 150 million in just 50 days. If they fail, they'll have to declare bankruptcy, and it's game over. After getting sold for for a mere pittance, the publisher remains in such bad shape that they're facing bankruptcy in just a little over two months.
A file from the US Securities and Exchange Commission tells us that Midway is really grimacing in financial pain right now. So far, they've got US$ 10.3 million in the bank, so that's US$ 140 million to go.
No word yet on what Midway is planning to do with the situation. Call it quits or fight to the death? Or by some miracle actually make that deadline? The health bar is running low, and the economy is itching to deliver its fatality.
Check the source link below if you want to read up on the SEC file - to the lay man, good luck trying to understand that.
Follow Midway's path to bankruptcy:
- Midway may be in for fatality: stocks fall 40%
- Unreal Engine 3: at fault for Midway Games' losses?
- Not quite a Fatality: Midway losses exaggerated, next MK game in discussion
Via Yahoo Biz
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50 days to release a game that will bang!
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***** off, you mindless tool!
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Sorry, but even two of the shortest months = 60 days...
Please....start *****ing proofreading your *****ing articles...or maybe you like people on the internet making fun of you.
Secondly, they don't have to sell a game, good luck with that, since nothing is even close to being released. They just need money. Usually in this case a company would start selling shares to make money, good luck with that as well. it's a sad day, but midway might just be dead....unless EA buys them....
Now, I wonder what will happen to that game that is supposed to rival gears of war 2 ?
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I doubt this company owns shares of any other company that they are able to sell.
So the only option is to sell games or obviously a buyout.
The only way I see them reaching 150 million is everyone right now goes out and buys Mortal Kombat vs Dc Unvierse because I doubt there will be enough people to want to buy TNA Impact to get them out of this.
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And QJ, is there something wrong with the server? It's feeding me the non-Javascript, non-CSS formatted layout that i presume is meant for the PSP and other mobile browsers.
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Haha! You got served!!
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JAN + FEB equals 28 +31 which equals 59!
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and lucky for your pimply ass it's a leap year next year...
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just like the old days sega lol but sega was shame in hardware & not bad in software (like sonic) so they close the shame sction, and sonic section left and now it has to be destroyed too (yeah now its shame) the same goes to midway its has reach the end of the road and they have no savior like sega did (what was his name ... sam or somthing) oh good days bye sega bye midway.
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....if midway is part of sega, cnt sony save em?
not that they wud.
they're losin money from the ps3 any way...
YOU CAN MAKE IT SONY!!!!!!!!!!!
.....i believe in you sony...i believe....*tear drops*
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Going OUT OF BUSINESS equals "game over."
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Education is KEY!!!!
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Sony was COMPETING with Sega on the Dreamcast and against Nintendo's 64, which they won luckily due to a.) the 64's storage issues and lack of RAM, b.) the Saturn and Dreamcast being difficult to code for (32-bit and 128 bit respectively) and, c.) CD music, awesome new IPs i.e. Resident Evil, FF7, MGS, Crash series, etc.
Lastly, Midway isn't involved at all. Not to mention that congress has targetted Midway for long enough. I can hear Jack thompson and ***** Cheney right now... "FINISH THEM!!"
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