THQ acquires Midway San Diego studio
No so long ago we posted a news item about the fall of the Midway Newcastle studios after a search for a buyer had failed. At the time, there was still a question mark hanging over the future of the studio in San Diego.
But now, THQ has announced their acquisition of “substantially all” the assets for Midway Games’ San Diego studio atÂ a sum of $200,000.
One key asset that is not written into the agreement is the ownership of the TNA games franchise, which after all rivals their WWE Smackdown vs Raw franchise.
Although not all employees will stay, THQ have offered 40 of the 100 staff news jobs which is good news but we never like to see anyone lose their work positions.
However, the deal is still awaiting approval by the court who are handling the bankruptcy on behalf of Midway.
Back in May of this year it was announced that Warner Bros. had offered a price of $33 million to buy the majority of the company, leaving Midway’s San Diego and Newcastle studios out in the cold looking for other buyers.