Desperate To Stay Afloat, Midway Starts Offloading Gaming Franchises

imageMortal Kombat publisher Midway Games has put its flagship title on the block. The embattled gaming company is selling everything it can — including its franchises — to help pay off creditors. Bankruptcy documents picked up by netDockets show that the company essentially has two options: try to get another restructuring plan approved by the courts (since it still owes various debtors about $150 million), or sell Mortal Kombat, and the company is promising its remaining execs about $1.3 million in bonuses if they can negotiate a sale.

But Variety begs the inevitable question: what’s Midway Games worth, without Mortal Kombat? The fighting game gained notoriety in the ’90s for its then-cutting edge violence and gore; it spawned two major films, and the latest iteration, Mortal Kombat vs DC Universe, had sold nearly 2 million copies about three months after its release. Midway’s sports franchises like Blitz, NBA Ballers and TNA Impact pale in comparison in terms of both sales and popularity.

Midway has already worked out a joint publishing deal with Ubisoft for the upcoming Wheelman title, starring Vin Diesel, its other potential blockbuster. Ubisoft will handle sales, marketing and distribution in North America, South America and nearly everywhere else, while Midway will retain future rights to the franchise and manage sales in a few European countries (via Blue’s News).

Photo Credit: Straymuffin