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Near fatality: Midway delisted from NYSE, parts from ESA

Posted Feb 18, 2009 at 7:38AM EST by QJ Staff

Listed in: Wii, PS3, Xbox 360 Tags: ESA, Midway Games, New York, Superman

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Midway Delisted from NYSE, Leaves ESA - Image 1
Even Superman wasn't able to save them

It's not looking good for Mortal Kombat studio, Midway Games. The company, which recently filed for a Chapter 11 bankruptcy, was officially delisted from the New York Stock Exchange.

Its delisting from the NYSE has been impending since November, when it was warned that it needed to keep an average closing price of US$ 1 per share for 30 consecutive days. Unfortunately, its growing debt, and despite its financial injection, the company wasn't able to recuperate in time.

Further adding to its growing list of pains is its departure from the E3 group, the Entertainment Software Association. Although neither have acknowledged this, Midway is no longer part of the member list in ESA's website.

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Comments

# RIP Midway — BigGulps 2009-02-18 11:47

See developers? This is what happens when you aggressively license the Unreal 3 engine; your games suck and you go bankrupt.

Unreal Engine: killing game developers since 98'.

Reply

# ... — papajag 2009-02-18 16:24

So you're saying SquareEnix is next?

Reply

# SquareEnix is not next... — BigGulps 2009-02-18 17:16

Remember The Last Remnant? Yeah, me neither. That was built using the Unreal Engine. Shortly after Square-Enix decided that it only intends to use the Unreal Engine on a "case-by-case basis." Funny how the FF13 uses the Crystal tools engine.

Reply

# No... — xploren 2009-02-18 20:59

BigGulps means that if you use a software you support excessively (in this case, Unreal Engine 3), you're likely to get in trouble. Especially if that software's not that great. Squeenix never used the Unreal Engine lots of times, so they're safe (unless they keep sending out crap games).

Reply

# Is that so? — refractionpcsx2 2009-02-19 01:28

You say that, yet games like Bioshock were a massive hit. It goes to show you can't blame the engine for a poor game.

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