Midway Selling Mortal Kombat?


Posted March 2, 2009 - By Stephen Johnson

Mortal Kombat Vs. DC Universe

After 17 years together, game publisher Midway and fighting game franchise Mortal Kombat are breaking up. Midway's trying to sell the series and its assets in an attempt to stave off financial dissolution.

The company needs to sell its well-known franchise to keep afloat... and to award its executives bonuses. The sale of Mortal Kombat is one of three milestones Midway needs to pass in order to pay a bonus of $3,755,000 to 29 “officers, management-level employees and other non-insider key employees" of Midway. The full text of Midway's "milestones" are below the cut.

  1. Milestone: Entry into a publishing/distribution agreement for Midway’s new “Wheelman” game (apparently already accomplished), performance by Midway entitling it to gross proceeds of $6 million under the agreement by March 1, 2009, and actual receipt of those proceeds.  Bonus Amount: $497,500.
  2. Milestone: Either (i) execution of an asset purchase agreement for the sale of Midway’s Mortal Kombat franchise assets or (ii) submission by Midway of a plan of reorganization to continue as a going concern.  Bonus Amount: $1,292,500.
  3. Milestone: The earlier to occur of (i) confirmation of a plan of reorganization or liquidation or (ii) closing of a sale of Midway’s Mortal Kombat franchise assets.  Bonus Amount: $1,965,000.

Which developer would you like to see snapping up the Mortal Kombat franchise? And where do you see it going in the future (if anywhere!)



Tags: Videogames
Midway Selling Mortal Kombat?


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