Midway Sale Approved By Court

Posted on Jul 3, 2009 at 2:31 AM Comments:0

Warner’s bid to purchase Midway has officially been cleared following a court hearing.

The majority of Midway’s US assets will now be transferred to Warner within the next ten days.

"We had a court hearing yesterday and the end result of that is the sale was approved and the closing will occur within the next ten days," a Midway representative told Joystiq.

The deal does not include Midway’s San Diego or Newcastle studios.

"Since we didn"t get any bids for the San Diego assets, we actually gave the employees a required 60-day warning," the spokesperson added. "For now those employees are continuing to work and it"s still entirely possible that a bidder could come in and acquire the San Diego assets."

It transpired this week that Warner was the sole bidder for Midway, having launched a $33 million offer back in May.


Via:NextGen Latest News
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