Warner Bros. game for Midway pickup
Studio nabs assets in bankruptcy court
More Articles:
Most Viewed:
'New Moon' crosses $200 million(4810 views)Invictus(2088 views)The costs of H’w’d spending(1723 views)Hollywood sea of change(1434 views)Pearce hops on to 'Hungry Rabbit Jumps'(667 views) |
A Delaware bankruptcy court judge OK'd the deal last week, saying that the objections to the transaction had been resolved.
Midway filed for bankruptcy protection earlier this year. Sumner Redstone had sold his 87% stake to Mark E. Thomas last year for only $100,000 along with the assumption of $70 million of Midway debt.
Midway's creditors agreed last month to give Thomas a $5 million payment.
Warner declined to comment on its plans for Midway. And it opted not to buy two Midway development studios in San Diego and Newcastle, England.
Warner Bros. has been bolstering its vidgame and interactive biz. It bought Snowblind Studios in February, "Lego" games producer TT Games in 2007 and Monolith Prods. in 2006.
The studio also owns a 30% stake in Eidos (behind the "Tomb Raider" games franchise). It took over control of the "Lord of the Rings" franchise from Electronic Arts earlier this year.
