Warner Bros looking to purchase Midway for $33m

Warner Bros Entertainment are said to be in the early stages of a Midway acquisition deal, which is reported to be worth $33m.

Following the collapse of Midway earlier this year, the Mortal Kombat developer had previously set a sale target amount of $30m. Both parties are waiting on the Bankruptcy Court to endorse the motion, which must be agreed before any further details can be finalised.

The purchase would involve the majority of Midway's assets, including the Mortal Kombat franchise and their Chicago and Seattle based development studios. Uncertainty still surrounds the fate of the TNA rights and other sites in Newcastle and San Diego, as they are reportedly not part of the deal.

In April, Warner Bros had established themselves as the primary buyer as rumours circulated that they were preparing to launch a takeover bid. They were also linked with a possible Eidos takeover, but the British based publisher was eventually rescued by Square-Enix.

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Recon415 said,

Nice useless comment...

Anyway, I thought I read movie studios wanted to make movie games now. A studio is a studio, they 'might' be able to do something with it...might. If they spend the money, they must have 'some' intent to do something I would assume. Why throw out money at this time of downturn...

They killed Atari and now they want to do the same with Midway.

ps :"In 1984, due to the video game crash of 1983, Warner sold the consumer division of Atari to Jack Tramiel. It kept the arcade division and renamed it Atari Games. They sold Atari Games to Namco in 1985, and repurchased it in 1994, renaming it Time-Warner Interactive, until it was sold to Midway Games "