Midway Cans Project Mid-way
August 12, 2008 by Raj
Filed under Corporate, Development, Miscellaneous, Newsbits, Press Releases
The financially troubled company Midway has canceled their yet-to-be-announced game project and has made some staff cuts. Sad news indeed.
Press Release:
Midway Games Inc. (NYSE: MWY) today announced that it has canceled an as-yet-unannounced project in production in its Austin, TX, facility, and as a result Midway will have a reduction in force of a portion of the affected development team. The studio will remain open and will continue to operate both the Company’s Central Outsourcing Group as well as two teams that are working on unnamed prototype projects intended to expand Midway’s portfolio of new intellectual property. Read more
Midway Closes LA Studio
July 22, 2008 by Raj
Filed under Corporate, Development, Miscellaneous, Newsbits
Midway Inc, will soon be closing it’s L.A studio and will offer relocation to all the employees to the San Diego office. One of the main reasons for the relocation is the development of the TNA video games.
Combining the locations will allow the TNA Impact development team to further leverage synergies with Midway’s other development studios in Chicago, Austin, Seattle, and Newcastle, UK, and work in close conjunction with the third party production, licensing, and quality assurance groups that are currently in San Diego.
Press Release:
Midway Games Inc. (NYSE: MWY), a leading interactive entertainment publisher and developer, today announced it will be combining the operations of Midway Studios – Los Angeles, located in Moorpark, CA, with Midway Home Entertainment, located in San Diego, CA. The newly combined operations will be located at Midway Home Entertainment’s current San Diego facility. The majority of Moorpark employees, including the entire development team for Midway’s TNA iMPACT!™ franchise, are being offered the opportunity to transfer to the San Diego facility. Midway expects to complete the transition out of the Moorpark facility by September 30, 2008. Read more
Midway Goes Digital!
July 11, 2008 by Raj
Filed under Action, Adventure, Corporate, Development, Digital Distribution, Downloads, First Person Shooter, Full Client, Genre, Horror, Miscellaneous, Newsbits, Press Releases, RPG
Midway is now going the digital distribution way as the company has launched two online digital stores. MidwayArcade.com will feature Midway’s classic arcade titles while Midway.com will feature the newer titles. Midway’s digital stores are being managed by Digital River. For the time being, the following title are available on Midway.com:
- Unreal Tournament 3 - USD $29.95
- Midway Arcade Treasures - USD $19.99
- Midway Arcade Treasures Deluxe - USD $19.99
- Area 51 - USD $14.
- Psi-Ops: The Mindgate Conspiracy - USD $14.99
- The Suffering - USD $9.99
- The Suffering: Ties That Bind - USD $14.99
- Rise and Fall: Civilizations at War - USD $19.99
- Stranglehold - USD $19.95
- Blacksite: Area 51 - USD $19.95
Midway didn’t reveal anything regarding the DRM method, though.
More info in the press release below: Read more
EA Extends Deal with Epic Games, Plans to Use Unreal 3.0 Engine In More Than 5 Upcoming Titles
April 8, 2008 by Raj
Filed under Corporate, Development, Press Releases
Electronic Arts Inc. and Epic Games, Inc. today announced that they have expanded their current license agreement. Under the terms of the new agreement, EA will have the right to incorporate the Unreal Engine 3 in more than five upcoming titles currently under development. EA’s original Unreal Engine 3 license agreement was signed in 2006, and this new agreement reflects EA’s confidence in the Unreal Engine by providing EA development teams with industry-leading tools and technologies to best serve the needs of each game.
Midway Loses $97.4 million in 2007
March 7, 2008 by Raj
Filed under Action, Adventure, Corporate, First Person Shooter, Miscellaneous, Press Releases
Midway Games Inc. (NYSE: MWY) today announced results of operations for the fourth quarter and full year ended December 31, 2007. The Company also provided guidance for the quarter ending March 31, 2008. Net revenues for the 2007 fourth quarter were $77.6 million, compared to the 2006 fourth quarter net revenues of $96.9 million. The 2007 fourth quarter loss applicable to common stock was $29.7 million, or a loss of $0.33 per basic and diluted share, compared with a 2006 fourth quarter loss applicable to common stock of $2.0 million, or a loss of $0.02 per basic and diluted share.
On a non-GAAP basis, excluding the impact of stock-option expenses and certain non-cash items, the 2007 fourth quarter loss was $23.0 million or a loss of $0.25 per basic and diluted share. For the 2006 fourth quarter, on a non-GAAP basis, the Company had a loss of $0.3 million, or a loss of $0.00 per basic and diluted share. A reconciliation of non-GAAP results to GAAP results is provided at the end of this press release.
Full press release after the break. Read more
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