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Giant Bomb Video Game News
Video Game News, Stories and Updates for the PS3, XBOX 360, PC, PSP, Wii, and DS
Added by Jeff Gerstmann on Feb. 12, 2009
- Midway has filed for Chapter 11 bankruptcy. The protection afforded by Chapter 11 was necessary as the company owed out millions that needed to be repaid as a result of the company's recent sale. Midway head Matt Booty was quoted as saying "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."
- Square Enix has put in a $120 million bid to buy Eidos, which is more than the company is actually worth. Eidos' stock price shot up on the news as people attempt to get in for lower than the buyout premium. The board of directors for Eidos are in favor of the deal and state that it's "in the best interests of shareholders."
- The recent layoffs over at Sega have apparently included some project cancelations. Obsidian's Aliens RPG--which it was producing for Sega--is said to be canceled and some number of Obsidian employees have been laid off.
- Gamasutra is reporting that Bandai Namco is working to buy D3 Publisher. BNGI has stated that it's already reached an agreement to purchase 70 percent of D3, but it wants the WHOLE THING FOR ITSELF so that it can properly... you know... synergize or something.
Filed under :
Aliens RPG (working title),
D3 Publisher of America, Inc.,
Namco Bandai Games Inc.,
Obsidian Entertainment,
Sega,
Eidos Interactive,
Square Enix,
Midway Games
31 Comments
Square wants Eidos? Is Lara Croft gonna be Asian in the next game?
Yup I just saw this bit about Midway filing for good old chapter 11. Today is a sad day indeed. From a realistic perspective, we all knew it was coming though.
fortunately, Midway has reassured everyone that bankruptcy doesn't mean the end of EGM, er.. Mortal Kombat.
(they're fucked)
(they're fucked)
The ability to buy western companies on the cheap is one of the few bright spots for Japanese publishers these days.
This is just the latest step towards selling off the Mortal Kombat license.
Or, uh.... something.
Or, uh.... something.
Tough break for Eidos. I wonder if Jeff is smiling just a little bit inside lol.
I hope Midway survives, they have too much history for me to let go.
Also, it seems like Midway sold off one of their high-profile titles to Ubisoft...
Also, it seems like Midway sold off one of their high-profile titles to Ubisoft...
All the financial stuff aside, this is the first I've heard of an Aliens rpg. That could be sooo awesome.
I'll have to look up Obsidian's track record. But Sega was publishing it? Someone needs to pick it up and run with it.
- - - - - - - -
Okay, I checked. I'd say it was in good enough hands.
please midway pull through,i dont know what id do without my mortal kombat
D3 made a naruto game, so of course namco bandai is going to buy them! sucks about the midway thing though. you never know what crazy plots square enix is cooking up.
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Giant Bomb is Whiskey Powered with Django
on Feb. 12, 2009