June 23, 2001 |
Midway Games Inc., which made "Pac-Man," "Spy Hunter" and "Gauntlet" arcade games in the 1980s, plans to cut its work force by about 60 employees, or 10%, and exit the coin-operated arcade video-game business because of declining demand. Midway is focusing on making home video games such as "Mortal Kombat" and "NFL Blitz" for Sony Corp.'s PlayStation 2, Microsoft Corp.'s Xbox and Nintendo Co.'s Gamecube and Game Boy. Midway Games rose 15 cents to $15.85 on the NYSE.
October 3, 2007 |
Midway Games Inc., the video game company controlled by Sumner Redstone, said it had a larger-than-expected third-quarter loss as product delays led to a sales shortfall. The loss excluding certain costs was about 27 cents a share, Chicago-based Midway said in a statement of preliminary results. It previously forecast a 17-cent loss. Sales were about $39 million, less than the $50 million that had been predicted.
June 28, 2005 |
Viacom Inc.'s MTV division said Monday that it had teamed with video game maker Midway Games Inc. to market three upcoming games, sell in-game advertising and develop the soundtracks for the games. The first title shipping under this deal, an arcade racing game called "L.A. Rush," is expected to debut this holiday season. It will feature the crew from the MTV show "Pimp My Ride," the companies said.
July 18, 2009 |
A Massachusetts businessman who paid a mere $100,000 for an 87% stake in Midway Games Inc. scored nearly $5 million from its sale, chalking up a 4,900% return on his eight-month investment. Mark E. Thomas, an investor in Concord, Mass., bought his shares in the troubled Chicago game publisher in November from financially strapped media magnate Sumner Redstone, who got rid of his holdings in time to claim a $700-million 2008 tax write-off.
December 21, 2002 |
Midway Games Inc., best known for its "Mortal Kombat" series of fighting games, is battling for its own survival and is shopping itself to other video game publishers, sources said Friday. Industry executives familiar with the situation said Midway had approached at least two firms about a possible deal. But whether a merger or an acquisition will transpire is far from clear. Companies such as Santa Monica-based Activision Inc. and Redwood City, Calif.-based Electronic Arts Inc.
December 25, 2003 |
Viacom Inc. Chief Executive Sumner Redstone's plan to purchase more shares in Midway Games Inc., the maker of Mortal Kombat and other video games, was cleared by the Federal Trade Commission. The FTC decision to end a review of the transaction may give Redstone, Midway's biggest shareholder, enough stock to take the company private.