Media giant offers to buy assets of bankrupt publisher, including Mortal Kombat and Wheelman; deal would not cover TNA license, San Diego and Newcastle studios.
When it took back [Only registered and activated users can see links. ], it was clear Time Warner was beefing up its game arm, Warner Bros. Interactive Entertainment. Today, the company made an offer that, if approved by the bankruptcy courts, would make the division positively brawny, thanks to the Mortal Kombat license.
This morning, Midway Games corporate communications director Geoffrey Mogilner confirmed to GameSpot that the media giant has put a bid down for most of the [Only registered and activated users can see links. ]'s assets. "Warner came in with an initial bid for $33 million for consideration for inventory, accounts receivable, and most of the US assets, including the Mortal Kombat and Wheelman assets," said the executive.
The offer does not include Midway's Newcastle (UK) and San Diego studios, nor the TNA Impact! wrestling license, said Mogilner. Nor would it make the buyer assume any debt or liabilities of Midway, or entangle it in the [Only registered and activated users can see links. ].
The "stalking horse" asset purchase agreement--so named by the vagaries of finance after the ungulates that helped the British hunt foxes--is the first step in a month-long court-supervised auction. "There's going to be a bidding process initiated as soon as there's a hearing to approve this motion for about 30 days," said Mogilner. "The bidding process ends with a hearing which will determine the winning bidder. It could be one group which buys pieces [of Midway], it could be one buyer that takes it all."
As for Warners' possible competitors, Moligner declined to name names. "There's a number of interested parties, but this is the first one that came forth with a written offer," he said.
why would you be frustrated this is good news..it means mk is going to continue one way or another...hell it could mean the release of a new mk game next year...!!! We would be super lucky if it happens this year but I tell ya either way its no reason to get frustrated
why would you be frustrated this is good news..it means mk is going to continue one way or another...hell it could mean the release of a new mk game next year...!!! We would be super lucky if it happens this year but I tell ya either way its no reason to get frustrated
Lol, Sector610, it was sort of a joke, like he is frustrated for you editing the news!
Indeed, not that I hate you for it, the anger was directed inward...and somewhat at Midway's site for being a pain when I attempt to sign up for something.
Trust me, I'm glad to hear Mortal Kombat isn't over yet. I'm always up for a good fight.
wtf! that will suck for sure
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