Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
September 17, 2019
arrowPress Releases







If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Midway Sells San Diego Studio To THQ, Sells German/French Divisions

Midway Sells San Diego Studio To THQ, Sells German/French Divisions

August 10, 2009 | By Staff

August 10, 2009 | By Staff
Comments
    2 comments
More: Console/PC



According to SEC filings, bankrupt publisher Midway, which is in the process of closing after selling most of its assets to Warner Bros for $49 million, has sold its San Diego studio to THQ, and its French and German divisions to smaller entities.

The Friday filing reveals that THQ purchased the development studio, formerly developers of the TNA Wrestling franchise, for $200,000 plus liabilities and paid time off for retained staff.

The purchase agreement indicates that THQ will be making employment offers to "not less than forty (40) employees of the Studio". According to a Chicago Tribune report, 100 employees in total work at the studio.

Specifically excluded from the bankruptcy purchase by THQ is the contract with the TNA iMPACT! video game in development at the studio, as well as the third-party tools such as Unreal Engine being licensed for that particular game's creation.

However, part of the deal also seems to be predicated on a licensing deal between THQ and Warner Bros "in connection with a shared [game] engine developed by or on behalf of [Midway] and their affiliates prior to July 10, 2009" -- which might allow Midway San Diego's developers to use their existing engine in some way.

Since THQ currently holds licenses for both WWE and UFC wrestling and fighting games, it seems conceivable that the studio might be used to extend those franchises, even though the current TNA title is not coming across with the acquisition. In a recent post-earnings conference call, THQ executives mentioned intentions to extend UFC to new game platforms.

In addition, Midway's German and French publishing divisions have been sold to holding companies formed by their heads -- in what is effectively a management buyout for each regional distribution area.


Related Jobs

Hyperkinetic Studios
Hyperkinetic Studios — Los Angeles, CA, California, United States
[09.16.19]

Lead Environmental Artist - Los Angeles
Hyperkinetic Studios
Hyperkinetic Studios — Los Angeles, California, United States
[09.16.19]

Level Designer - Los Angeles
Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[09.16.19]

QA Tester
Daybreak Games
Daybreak Games — Austin, Texas, United States
[09.16.19]

Senior Engine Programmer









Loading Comments

loader image