Midway may be in for fatality: stocks fall 40%

Midway Games, the studio behind the Mortal Kombat franchise, has been shoulder deep in financial troubles lately, and is currently facing delisting from the New York Stock Exchange.

It's gotten so bad that a private investor was able to buy 87% of shares for only US$ 100,000. The purchase was hoped to pull Midway out of its spiral of doom, but that's not the case.

Midway's share price fell to a new low of 23 cents, down almost 40% from Monday's peak. The company is still heavily in debt, although Mark Thomas, the guy who dished out the hundred grand from a controlling stake in the company, is reported to dish out US$ 70 million to cover some of the debt. Looks like he didn't get the company for cheap after all.

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The gaming GOD3696d ago

Because I don't see any reason for someone to willingly take on that much of a financial burden no matter how rich you are.

vitz33696d ago

Maybe if they tried making a good game within the past 10 years they might not be in this situation.

The gaming GOD3696d ago (Edited 3696d ago )

You're damn right on that one.

The problem was that Midway thought they could ride MK's fame from the early 90's from then all the way to now.

They don't even realize that they've dried out their own franchise. MK lost its luster long ago. And it doesn't help that their other games lacked quality either

barom3696d ago

Damn and I wanted my Stranglehold 2 or Psi Ops 2.

coolfool3696d ago

I don't think that MK vs DC is that bad a game, the graphics seem acceptable and the game seems fun and playable. But despite all that, people just don't want it.

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ugabugaz3696d ago

Releasing a rapid stream of crappy games = No cash

Releasing Quality titles = $$$

I don't see what's so difficult about it. Just make good games.

Square - Enix might fall this way too, the way they've been money hungry lately.

Cyber Gamer3696d ago

its because they make crappy games and like the new game they made the fatality was not there like how it should be that's why i don't buy there games anymore lol

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