Midway up for grabs?
01-02-03, 02:51 PM
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Midway up for grabs?
Interesting little piece on Gamers.com news section.....
Gamers.com: News:
Midway Up For Grabs?
By: Alex Fraioli December 31, 2002 1:16 PM PST
According to an article originally printed in the LA Times, veteran developer Midway Games could soon be for sale. Midway has been experiencing a dramatic slump in sales over the course of the year, and the possibility of the company being purchased by a larger corporation is very real.
Midway has made no statement of a possible sale yet, but inside sources say that it is likely. Both Electronic Arts and Activison have stated that they have no interest in purchasing Midway.
Gamers.com
12.26.2002 2:19:55 PM
Midway Games Rumored to be for Sale; Company Cuts Forecasts
by Joseph Moran
Citing industry sources, the Los Angeles Times recently reported that Midway Games is up for sale. The newspaper said that at least two companies had been approached as possible suitors.
When asked during a Monday investor conference call whether the company was indeed being shopped, a company representative flatly refused to comment.
Midway also revised its 4th quarter revenue forecast downward, to between $78 and $83 million, down from between $105 to $155 million. The company had previously forecast a 4th quarter profit of between $15 and $40 million, but now expects to report a loss.
The company said that the decrease was a result of lower than expected demand for games like Defender, Dr. Muto, and Haven: Call of the King, which was partially offset by higher than expected demand for Moral Kombat: Deadly Alliance.
Gamemarketwatch.com
I don't want to play chicken little here, but I hope Midway doesn't get snapped up by Microsoft much the same way that Rare did.
Gamers.com: News:
Midway Up For Grabs?
By: Alex Fraioli December 31, 2002 1:16 PM PST
According to an article originally printed in the LA Times, veteran developer Midway Games could soon be for sale. Midway has been experiencing a dramatic slump in sales over the course of the year, and the possibility of the company being purchased by a larger corporation is very real.
Midway has made no statement of a possible sale yet, but inside sources say that it is likely. Both Electronic Arts and Activison have stated that they have no interest in purchasing Midway.
Gamers.com
12.26.2002 2:19:55 PM
Midway Games Rumored to be for Sale; Company Cuts Forecasts
by Joseph Moran
Citing industry sources, the Los Angeles Times recently reported that Midway Games is up for sale. The newspaper said that at least two companies had been approached as possible suitors.
When asked during a Monday investor conference call whether the company was indeed being shopped, a company representative flatly refused to comment.
Midway also revised its 4th quarter revenue forecast downward, to between $78 and $83 million, down from between $105 to $155 million. The company had previously forecast a 4th quarter profit of between $15 and $40 million, but now expects to report a loss.
The company said that the decrease was a result of lower than expected demand for games like Defender, Dr. Muto, and Haven: Call of the King, which was partially offset by higher than expected demand for Moral Kombat: Deadly Alliance.
Gamemarketwatch.com
I don't want to play chicken little here, but I hope Midway doesn't get snapped up by Microsoft much the same way that Rare did.
01-02-03, 04:13 PM
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They've been milking Mortal Kombat forever. Looks like one game isn't enough to keep the company afloat when everything else is crap (and Mortal Komabt isn't even that good either).
