Midway files for chapter 11 bankruptcy - Blu-ray Forum

Nerdkiller likes BD · 02-12-2009, 06:47 PM

http://kotaku.com/5152300/midway-files-for-bankruptcy

Quote:

The long-struggling publisher of Mortal Kombat filed for bankruptcy this morning, calling it a difficult but necessary decision.

The voluntary petition for reorganization under Chapter 11 effects all of its U.S. subsidiaries, but none of its international ones.

"This was a difficult but necessary decision," said Midway Chairman, President and CEO Matt Booty. "We have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."

"Midway enters this process with strong underlying fundamentals, as evidenced by solid fourth quarter sales that exceeded expectations in spite of a challenging retail and general economic environment," Booty added. "Overall, Mortal Kombat vs. DC Universe sales are approaching two million units shipped, TNA iMPACT! has shipped approximately one million units, and our Game Party franchise has sold close to three million units in total."

The publisher and developer said it expects the protection will help the company conduct business as usual, but it needs permission from the court before it can move forward. Chapter 11 means they want to keep operating, chapter 7, which they didn't file, means they are liquidating.

Awww man, this is sad. I mean, I like the Mortal Kombat series, but from where I'm seeing with this, I just hope someone picks the series up (also planning on getting MK II off of PSN but with this, the servers are probably shut down). First Free Radical (although they got saved by Crytek) now this.

Maximus · 02-12-2009, 07:23 PM

Midway have to think small. They took on too many big projects which failed. They will be better off starting a new studio which puts out shovelware on the Wii/DS and make loadsa money off that while funding new IPs with the money to try and establish themselves with a game other than MK...

ADRiiAN` · 02-12-2009, 07:27 PM

I bet Mortal Kombat vs. DC really saved their butts.

Well, we'll see what they have planned to save themselves.

Chris60119 · 02-12-2009, 07:28 PM

Quote:

Originally Posted by ADRiiAN`

I bet Mortal Kombat vs. DC really saved their butts.

Well, we'll see what they have planned to save themselves.

I say the opposite. I think if they made a real Mortal Kombat game. It would of sold more copies. I haven't gotten MK vs DC yet. I'm waiting for the price drop to 20 bucks.

ckent22 · 02-12-2009, 07:31 PM

Quote:

Originally Posted by ADRiiAN`

I bet Mortal Kombat vs. DC really saved their butts.

Well, we'll see what they have planned to save themselves.

I don't think so at all. That was a terrible idea for a game. Back to the original topic however, I think it is sad, because I loved NFL Blitz and NBA Jam and all that stuff.

Nerdkiller likes BD · 02-12-2009, 07:37 PM

Quote:

Originally Posted by ckent22

I don't think so at all. That was a terrible idea for a game. Back to the original topic however, I think it is sad, because I loved NFL Blitz and NBA Jam and all that stuff.

I just hope that my idea of them going onto PSN with online play won't go with them however.

LifeOfAPirate13 · 02-12-2009, 07:39 PM

Yeah MK vs DC could've been good but the story was retarded and the actual game itself sorry to say was something you would expect to see about 7 years ago in terms of control, gameplay, execution.

LIONSFAN20 · 02-12-2009, 08:01 PM

I was gonna say if they released the original NBA Jam again and maybe Blitz too this could have been avoided.

Dynamo of Eternia · 02-12-2009, 08:25 PM

Quote:

Originally Posted by frettless5

I say the opposite. I think if they made a real Mortal Kombat game. It would of sold more copies. I haven't gotten MK vs DC yet. I'm waiting for the price drop to 20 bucks.

Well, that's just you. This article would indicate otherwise:

http://ve3d.ign.com/articles/news/44...mbat-Konfirmed

Quote:

Originally Posted by that article

Over a million Mortal Kombat vs. DC Universe copies sold, one-point-eight-million shipped worldwide, and more Mortal Kombat to come:

"Mortal Kombat vs. DC Universe was the result of countless hours of hard work by many people, and seeing the game surpass the million-seller plateau makes it worth all the effort," said Ed Boon, Mortal Kombat co-founder and creative director, Midway. "We're already hard at work on our next version of Mortal Kombat, and look forward to being able to reveal more details in the future."

Mortal Kombat vs. DC Universe also continues to set a number of internal Midway records. The game was the most pre-ordered MK title in company history, and more than 3.6 million Mortal Kombat vs. DC Universe matches have been played online worldwide for the PS3, according to numbers from GameSpy Technology,* which provides connected gaming, multiplayer and statistics gathering services to the title.

While I do admit that it wasn't the best game in the series (IMO), it definately sold well. The inclusion of the DC characters, which are well known and highly recognizable, probably helped a lot.
I actually do like the game in many ways, but it does feel sort of 'incomplete'. It needs a few things added to it to make it feel more complete.

dgator783 · 02-12-2009, 08:36 PM

release another awesome NBA JAM game and all will be forgotten...

"Heating Up"

"He's on Fire"

"Boom, SHaka-laka"

air_max · 02-12-2009, 08:45 PM

bummer. no NHL Hitz on PS3

Xerios · 02-12-2009, 08:51 PM

Quote:

Originally Posted by dgator783

release another awesome NBA JAM game and all will be forgotten...

"Heating Up"

"He's on Fire"

"Boom, SHaka-laka"

he couldnt hit the backside of a barn

Hedchekr · 02-12-2009, 09:47 PM

Man remakes of NBA Jam, NFL Blitz, and NHL Hitz, would be awesome, to bad that probaly won't happen, unless someone tries to swoop them up.

reiella · 02-12-2009, 10:23 PM

Quote:

Originally Posted by frettless5

I say the opposite. I think if they made a real Mortal Kombat game. It would of sold more copies. I haven't gotten MK vs DC yet. I'm waiting for the price drop to 20 bucks.

It sold alot of copies... Those sales haven't really directly translated to cash in their coffers is all. And is one of the points Midway is hoping will dissuade the creditors for opting for liquidation.

And the SE bid for Eidos is an interesting event since it does show some market viability for 'dead studios' with some IP.

Pepelutivruski4 · 02-13-2009, 12:36 AM

a new NBA Jam will clean them up real nice.
actually a new NBA hangtime, NBA Jam got old quick.

and stop making crap like DC v MK. horrible idea.

FIDDYPOP · 02-13-2009, 12:45 AM

They have not made too many great games recently. That is business.

chnandler_bong · 02-13-2009, 01:48 AM

Quote:

Originally Posted by dgator783

release another awesome NBA JAM game and all will be forgotten...

"Heating Up"

"He's on Fire"

"Boom, SHaka-laka"

This is absolutely the only basketball game that I played and loved...I need to whip out the SNES now...

Pepelutivruski4 · 02-13-2009, 01:53 AM

Quote:

Originally Posted by FIDDYPOP

They have not made too many great games recently. That is business.

+1
i think 90% of their games were crap, including blitz and hitz and all that other crap they made back in the SNES/Genesis era.

reiella · 02-13-2009, 01:54 AM

Quote:

Originally Posted by FIDDYPOP

They have not made too many great games recently. That is business.

Not really 'just' business I think, the big thing is the principle share holder selling all of his interest for 100k.

dgator783 · 02-13-2009, 02:18 AM

Quote:

Originally Posted by Pepelutivruski4

+1
i think 90% of their games were crap, including blitz and hitz and all that other crap they made back in the SNES/Genesis era.

those are the games that made midway and are classics like Jam.....must not be a sports fan...lol

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02-12-2009, 07:23 PM	#2
Maximus Super Moderator Top contributor Member since:Nov 2006	Midway have to think small. They took on too many big projects which failed. They will be better off starting a new studio which puts out shovelware on the Wii/DS and make loadsa money off that while funding new IPs with the money to try and establish themselves with a game other than MK...

02-12-2009, 07:27 PM	#3
ADRiiAN` Special Member Member since:Nov 2007 Location:Toronto Blu-ray collection:113	I bet Mortal Kombat vs. DC really saved their butts. Well, we'll see what they have planned to save themselves.

02-12-2009, 07:39 PM	#7
LifeOfAPirate13 Expert Member Member since:Oct 2007 Location:Chicago, IL Home Theater Gallery:7 Blu-ray reviews:2 Trading Score:18	Yeah MK vs DC could've been good but the story was retarded and the actual game itself sorry to say was something you would expect to see about 7 years ago in terms of control, gameplay, execution.

02-12-2009, 08:01 PM	#8
LIONSFAN20 Special Member Member since:Aug 2008	I was gonna say if they released the original NBA Jam again and maybe Blitz too this could have been avoided.

02-12-2009, 08:36 PM	#10
dgator783 Blu-ray Samurai Member since:Feb 2007 Location:Lakeland,FL 4K collection:377 Blu-ray collection:1521 Blu-ray reviews:11 Trading Score:14	release another awesome NBA JAM game and all will be forgotten... "Heating Up" "He's on Fire" "Boom, SHaka-laka"

02-12-2009, 08:45 PM	#11
air_max Special Member Member since:Jan 2008	bummer. no NHL Hitz on PS3

02-12-2009, 09:47 PM	#13
Hedchekr Special Member Member since:Apr 2008 Location:Orcutt, Cali Blu-ray collection:120 Trading Score:5	Man remakes of NBA Jam, NFL Blitz, and NHL Hitz, would be awesome, to bad that probaly won't happen, unless someone tries to swoop them up.

02-13-2009, 12:36 AM	#15
Pepelutivruski4 Banned Member since:Oct 2008 Blu-ray collection:19	a new NBA Jam will clean them up real nice. actually a new NBA hangtime, NBA Jam got old quick. and stop making crap like DC v MK. horrible idea.

02-13-2009, 12:45 AM	#16
FIDDYPOP Expert Member Member since:Jan 2008 Location:Chi-Town Home Theater Gallery:8 Blu-ray collection:444 Blu-ray reviews:1	They have not made too many great games recently. That is business.

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