Warner Bros. is paying substantially more than previously reported to purchase Midway Games, the bankrupt game company behind the Mortal Kombat franchise. Last week, a judge approved a deal in which Warner Bros. would acquire Midway for $33 million, but that price was subject to adjustment. The final price, according to an SEC filing: $49 million. The filing also indicates that Warner Bros. will close down Midway’s Chicago headquarters and lay off all 60 employees who work there. Another 75 employees who work at a Midway studio in Newcastle, U.K. are also losing their jobs. The sale ends a state of uncertainty that has existed at Midway ever since Sumner Redstone sold his 87 percent stake in the company last December to a mysterious investor for only $100,000 in cash (Via Gamespot).
By Joseph Tartakoff