Midway Enters Into Asset Purchase Agreement with Warner Bros.

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MidwayMidway has entered into an asset purchase agreement with Warner Bros. Entertainment that will see Warner Bros. acquire substantially all the assets of Midway (including its game franchises such as Mortal Kombat) for $33 million. The $33 million number could change before the transaction occurs depending on how much Midway's inventory changes and how much money is owed to Midway by retailers. The agreement is still subject to approval by the bankruptcy court and is a "stalking horse" arrangement, meaning that other parties could still offer to pay more for Midway's assets. But they probably won't.

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This page contains a single entry by Editor published on May 21, 2009 10:25 PM.

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