Reliable trade sources have informed MCV that Warner Bros is readying a potential bid for Midway Games.
It is thought that the LEGO publisher is particularly keen to acquire Midway’s flagship Mortal Kombat and Stranglehold franchises, as well as its retro IP such as Gauntlet adn Joust – and a modern casual game roster including Game Party and Touchmaster.
MCV understands that Midway is keen for Warner to match its target sale price of $30m (20.6m) – but that it may yet sell off its owned IP and studios separately.
A source close to Midway told MCV: Warner is pretty confident that they will get Midway – which will be an immediate boost to their portfolio. The deal isn’t done yet. Midway is still open to offers from other potential buyers – but Warner looks to be favourite to wrap it up. They look ready to put the money on the table.”
A key employee incentive plan means that 28 key Midway members will receive a number of financial rewards if Midway’s $30 million target price is met.
The bonus plan has been approved by owner Mark Thomas, as well as the courts, Midway management, and the company’s various creditors.
Media mogul and former Midway owner Sumner Redstone sold his 87 per cent controlling stake in the publisher to Mark Thomas for just $100,000 in December.
Midway could not comment on the story when contacted by MCV.