Media, Internet, Finance

Only Warner Bids on Midway


 

Troubled video game developer and publisher Midway has stopped taking bids for its assets – which it had recently put up for sale amid bankruptcy and legal issues – and has found just one offer.

 

According to the Los Angeles Times, Warner Bros. Interactive Entertainment emerged as the only bidder with a $33 million offer to buy most of Midway’s franchises, including Mortal Kombat, Spy Hunter, Joust, and Wheelman, as well as Midway’s Chicago and Seattle studios.

 

Midway’s other two studios, in Newcastle, UK, and San Diego, are not part of the sale.

 

Warner announced its offer in May, but Midway held out, accepting bids through June 24 in hopes that a bidding war would occur, culminating in an auction to determine who would receive the assets.

 

However, because Warner was the only bidder, there will be no auction. Warner will likely buy up the assets, but not before Midway resolves several complaints from creditors.

 

Warner has been looking to strengthen its foothold in the video game industry lately by acquiring Snowblind Studios in February and acting as publisher for anticipated games such as Scribblenauts and Batman: Arkham Asylum.

 

 

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