Midway sold to Warner Bros. for $33 Mil.
July 7, 2009
For a long time Midway Games Inc. has been circling the bankruptcy drainpipe as it filed for Chapter 11 earlier in the year. Well it seems Midway has been saved as court filings show that a Delaware bankruptcy judge has approved sale of most of the company’s assets to Warner Bros. Entertainment Inc. for $33 million dollars.
Several companies though, had filed objections to the Midway sales, mostly over intellectual-property (IP) disputes. Included in this list was Hollywood production company Threshold Entertainment Inc, which produced two feature-length “Mortal Kombat” films. Also included was Tigon Studios, a production company founded by Vin Diesel predominantly for a collaboration on “Wheelman” which stared Diesel.
The Judge stated last Wednesday that the objections to the deal had been resolved, clearing the way for approval on the sale to Warner Bros.