Midway Games—the company that served as home to Mortal Combat, Wheelman, Joust, Gauntlet, Spy Hunter, and many other well-known titles—has had more of its assets acquired by Time Warner for $33 million at bankruptcy auction. The sale was approved on July 2, and will become final within ten days. Under the terms of the arrangement, Time Warner gets the majority of Midway’s game properties and assets, although there are a few exceptions: Midway’s San Diego and Newcastle studios aren’t part of the deal, and the film company Thresher Entertainment claims it controls most of the intellectual property for Mortal Kombat, meaning a new deal will likely have to be worked out with Time Warner before any new Mortal Kombat titles appear.
