Midway has 50 Days to Rack Up US $150 Million or it's Game Over
Big trouble. Big big trouble. Midway Games is in hot water now, trying to figure out how they can earn US $150 million in just 50 days.
If they fail, they'll have to declare bankruptcy, and it's game over. After getting sold for for a mere pittance, the publisher remains in such bad shape that they're facing bankruptcy in just a little over two months.
A file from the US Securities and Exchange Commission tells us that Midway is really grimacing in financial pain right now. So far, they've got US $10.3 million in the bank, so that's US $140 million to go.
No word yet on what Midway is planning to do with the situation. Call it quits or fight to the death? Or by some miracle actually make that deadline? The health bar is running low, and the economy is itching to deliver its fatality.
Check the source link above if you want to read up on the SEC file, to the lay man, good luck trying to understand that. More PlayStation 3 News...