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Warner Bros. acquires Midway by default, was the only one 'serious'

Posted Jun 26, 2009 at 3:51PM EST by Mabie A.

Listed in: News, Titles Tags: Chicago, LA Times, Seattle, Unreal Engine

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Midway is now owned by Warner Bros. -- by default. The LA Times report that the media conglomerate has won the bidding rights to Midway for US$ 33 million. So how come they won it by default? According to reports, the big WB was the only one who had a "serious offer".

Midway was hoping for a bidding war that would up the price, but although several game publishers had been checking the Midway merch, none of them really stood up to to the plate. Said Geoff Mogilner, spokesman for Midway, "No other bids came in, so there's not going to be an auction."

As part of the acquisition bundle, WB will now also own the development studios in Chicago and Seattle, as well as rights to new and classic IP.

Only yesterday, we reported that Midway has been sued by a movie producer over IP rights to Mortal Kombat. Midway's financial woes started late last year when their stocks fell by 40%. The Unreal Engine 3 was among those factors accused of causing the stress in their bank accounts, but despite all these, they remained focus on churning out new iterations for the MK franchise -- or at least were determined to continue with it.

Via LA Times

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...and Marketing are the ones who sucked major donkey balls. But, I think the WB might have gotten quite a steal on that deal. There are plenty of 'classic' properties that Midway has that they just weren't smart enough to turn. Joust could easily be taken into the 21st century and current gen. Defender. Gauntlet. Rampage. --Maybe some of those properties moved-on to other companies, but there were a LOT of arcade games that Midway used to make, that make for good 'high concept' for next-gen iterations.... Midway was just too stupid to do anything with them: Mortal Kombat vs DC Universe. ??? --Were they HIGH? There are DC fans. There are Kombat fans. I'm guessing that game tanked (for the most part) because each of those type of fans never really thought of crossing the two in a single game. That was an act of desperation. ...Even if Warner milks the old properties dry, I suspect they'll get more than their money back. ...A STEAL for $33 Million.

# Unreal 3 Engine — Neuromancer 2009-06-27 15:41

Wasn't someone else sueing the makers of the Unreal 3 Engine because they didn't back the tech they leased? That's two companies out of luck because of this U3E nonsense. Just use the Source engine, lol. At least Valve can code decent netcode for a multiplayer game, which apparently is a lost art.

# that movie sucked — symbyosis 2009-06-28 09:48

Heath Ledger ruined cowboys and the joker for everyone.

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