Quick Jump Daily Digest

Thank you for your interest in the Quick Jump Daily Digest. Get notified of all new content on QJ in our free Daily Digest. To subscribe, enter your email address below and click the subscribe button.


Email Address:


Email will come from "donotreply@caputomedia.com". Please whitelist this email address.

Cancel and Return to page

Midway posts more losses in Q3, will drop underperforming titles

Posted Nov 11, 2008 at 2:55PM EST by Glenn M.

Listed in: News Tags: Midway Games, THQ
Ó

Midway Games - Image 1After posting its third quarter report, Midway joins the ranks of EA, THQ, and Brash who are all experiencing much difficulty with the economic situation. Like THQ, Midway is looking at cost-cutting measures and dropping titles.

In their Q3 report last year, Midway Games reported incurring a net loss of US$ 33.5 million, that amount more than doubles this year and now they posted a US$ 75.9 million loss.

They point out that this is due to the optimization of its Austin facility, the cancellation of an unannounced game, and the "entrance into a receivables factoring agreement" to offset the costs related to manufacturing fall game releases.

Outlook isn't pretty good and Midway is expecting to post more losses in the fourth quarter - even with the upcoming launch of formidable titles.



Related articles:




100% of voters think this story ROCKS!
Vote Now!    This story ROCKS! (1) This story SUCKS!! (0)




Become a Member of QJ.Net!

If you want your comments to go live without waiting for moderation, you need to be logged in. Being logged in has its benefits:
  • Logged in members do not wait for their comments to be approved.
  • Logged in members can sign up for nightly updates.
  • Logged in members can create Profiles to be seen by other users.
So why wait? Create an account or login now! It's easy, quick, and free.

To get started, use the LOGIN boxes, or the REGISTER link at the top right!

Comments 


 
# Government Bail Outdu.der.icio.us 2008-11-12 02:37
I for one believe that the US Government shouldn't let the game industry go away. We need to bail them out. The gamers wouldn't go on a high price Junket in the Bahamas with tax payer money either. The worst they'd do is go to Taco Bell a few times late, late at night.

Reply
 

Add comment

Security code
Refresh


Welcome to QJ.Net!

If you want your comments to go live without waiting for moderation, you need to be logged in. Being logged in has its benefits:
  • Logged in members do not wait for their comments to be approved.
  • Logged in members can create Profiles to be seen by other users.
So why wait? Create an account or login now! It's easy, quick, and free.

To get started, use the LOGIN boxes, or the REGISTER link below!



Want to learn more about the team who brings you the QJ news?

Read about them now!


RSS Feeds Follow us on Twitter Find us on Facebook
Login:

HOT FLASH GAMES

Monster Truck Jumper

Left to Die

The Empire 2

Dark Dimension

Town Drift Competition

Heroes of the Sword