14 DAY TRIAL // Midway was a great developer and publisher of games a few years ago, when it was releasing great titles like Mortal Kombat, Spy Hunter or Unreal Tournament. But recently, as of 2005, the company hit a very slow sales period which resulted in bad financial earnings.
This made Midway drop a lot of employees and terminate some of its upcoming titles just because there wasn't a lot of money for risky games that could or could not sale. Throwing money out the window by investing in new franchises just wasn't something the company could afford.
We reported a while ago that Midway had resorted to borrowing money from its owner's other companies in order to see its holiday titles like Mortal Kombat vs DC or TNA Impact through.
And it now seems that it definitely wants to make the most out of that loan and has announced that, after some talks with its partners, the company will invest only in the most popular titles of its portfolio and has such terminated a few projects that were underway at certain divisions.
"The resolution of these licensing arrangements on good terms for the company is a very positive step as we continue to review Midway’s involvement with underperforming projects and focus on our core properties," said Matt Booty, interim CEO and president. "Our fall lineup and strong pipeline of games that tie in to market-leading licenses like DC Comics and TNA Wrestling underscore our strategy of aligning with consumer and entertainment properties that can drive a solid gaming experience."
It's the best move that a struggling developer like Midway could have made, focusing on titles that will definitely generate big sales. Who knows, maybe after some time it will result in the company getting out of its financial problems and back to creating new games that might attract even more customers. Only time will tell the outcome of this move.