(New York Times) Media giant Warner Brothers has come to the rescue of Midway Games, the bankrupt developer of the Mortal Kombat franchise. As of February, the Midway found itself unable to fulfill its debts after owner Sumner Redstone sold off his stake in the company for a mere $100,000.
Since their bankruptcy filing, Midway has faced legal reorganization under Chapter 11 bankruptcy laws. Warner Brothers (pending the court’s approval) has offered $33 million for a majority stake in the company. If the deal goes through, WB would only acquire two of the current Midway Studios (Midway Chicago and Midway Seattle,) as well as the Mortal Kombat game franchise.
It’s now up to the bankruptcy court; hopefully, the deal will go through and Midway will continue to exist as a company.