Time Warner Buying Most of Midway Games for $33 Mln

dell takes a slice at apple with super thin latitude z dellz closed

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.

Midway is still looking for buyers for its San Diego and Newcastle studios; if none are found within 60 days, the company plans to shut them down.

Despite a deep catalog of game titles and some publishing successes (such as the Unreal franchise, owned by Epic and presumably now looking for a new publisher), Midway Games hasn’t been profitable for almost a decade. Following the release of Mortal Kombat vs. DC Universe, controlling investor Sumner Redstone sold his stake in the company for a mere $100,000; late last year, Midway announced a round of belt-tightening in which it jettisoned under-performing and in-development titles and laid off about a quarter of its workforce. Shortly thereafter, the company filed for bankruptcy, and creditors filed a motion with the bankruptcy court essentially detailing how Redstone’s sale had torpedoed the company’s value in the market and ability to recover.

The solution was to sell off Midway’s assets at auction; although the company was hoping for more thsn $33 million, Time Warner turned out to enter the only formal bid on Midway. This may bode well for the DC Universe tie-ins—Warner Bros. has long handled television, film, and movie adaptations of DC Comics properties. However, at this point, the future of most Midway titles remains very uncertain.

Gaming

Adventure Academy is an MMO for kids that combines learning with fun

Age of Learning’s follow-up to ABCmouse is an educational MMO called Adventure Academy. Targeted at kids ages 8-13, Adventure Academy has a comprehensive curriculum and all of the rewarding trappings of a modern MMO.
Gaming

Here's where Xur is and what he has for wares this week in Destiny 2: Forsaken

The weekly vendor in Destiny 2: Forsaken always brings Exotic weapons and armor, some of the toughest loot to find in the game. Here's everything you need to know to track down Xur: Where he is, when he shows up, and what he's stocking.
Gaming

How to unlock and catch the flying disc toy in this Fortnite weekly challenge

The season 9, week 3 challenges in Fortnite: Battle Royale have arrived and the biggest obstacle tasks players with throwing and catching a flying disc toy. Here's how to unlock the disc and complete this challenge.
Gaming

These are the 20 best Android games you can play offline

Even in our increasingly connected world, you don't always have an internet connection on the go. To help you pass the time when you're disconnected, we compiled a list of the best Android games that can be played offline.
Movies & TV

Knights of the Old Republic: Can Star Wars make a watchable video game movie?

Disney is developing a trilogy based on the Star Wars: Knights of the Old Republic video game, but even the Jedi are going to have trouble overcoming the long, disappointing history of subpar game-to-movie adaptations.
Gaming

A new bill could outlaw loot boxes in video games. Here’s what it says

Senator Josh Hawley of Missouri is making noise with his newly proposed bill that aims to tackle pay-to-win micro-transactions and loot boxes in video games played by kids. But what would the bill do, exactly?
Gaming

Video game lobbying group trashes proposed anti-loot box bill

After the reveal of a loot box and microtransaction ban bill, the ESA put out an official response. The organization's CEO says the bill doesn't reflect how the gaming industry works and will be harmful to gamers.
Gaming

From Kefka to card games, here’s our beginner’s guide to Final Fantasy XIV

With Final Fantasy XIV: Shadowbringers right around the corner, now's the time to give the game a shot. From hyper-difficult battle content to relaxing card games, our FFXIV beginner's guide will ease you into all of Eorzea's finest…
Deals

Walmart cuts prices on Nintendo Switch games with Memorial Day sale

With savings on high-caliber Nintendo Switch games, the Walmart Memorial Day sale is a great time to pick up something new to play. There are even a few deals on accessories to beef up your console.
Gaming

GameStop Memorial Day sale: PS4, Xbox One, and Nintendo Switch deals

Some of the deals at the Gamestop Memorial Day sale include PS4 and Xbox bundles that come with essential games like God of War or Forza Horizon 3. If you're just looking to scoop up games, used titles are 50% off throughout the event.
Gaming

Everything we know about the PlayStation 5, including PlayStation VR plans

PlayStation 5 rumors have circulated for over a year, but there's still plenty we don't know. Here's everything you need to know about the PS5, including rumors about its release, specs, and games.
Gaming

You're not a true fan without these Nintendo Switch exclusives

Who doesn't love a good Nintendo game? If you're looking for great first-party titles for your Nintendo Switch, take a look at our list of the very best exclusives available right now.
Gaming

These Xbox One exclusives are the definition of quality over quantity

Xbox One has a prestigious collection of handpicked titles that you can't play on other consoles. Here are the latest and greatest Xbox One exclusives, including some that are also available on PC
Deals

Walmart drops deals on Xbox One X games and accessories for Memorial Day

The most obvious deals are on console bundles, but there are also discounts on wireless controllers here and there. If you're just looking for new Xbox One games to play, Walmart is offering popular titles for cheap.