Blog Post

Warner Bros. Ends Up Paying $49 Million For Midway Games; 135 Jobs Cut

Updated: Warner Bros. is paying substantially more than previously reported to purchase the assets of Midway Games, the bankrupt game company behind the Mortal Kombat franchise. Last week, a judge approved a deal in which Warner Bros. would acquire Midway for $33 million, but that price was subject to adjustment. The final price, according to an SEC filing: $49 million. The filing also indicates that Midway’s Chicago headquarters will be closed and all 60 employees who work there will lose their jobs. Another 75 employees who work at a Midway studio in Newcastle, U.K. have also lost their jobs. The sale ends a state of uncertainty that has existed at Midway ever since Sumner Redstone sold his 87 percent stake in the company last December to a mysterious investor for only $100,000 in cash (Via Gamespot).