Midway back from brink of bankruptcy

By Ellie Gibson Published 7 January, 2009

Till the middle of February, anyway.

Midway has reached an agreement that should prevent the company from going bust - at least for a bit.

As reported by GamesIndustry.biz, the publisher owes its bondholders USD 150 million following sale to a private investor.

It would appear they've failed to find that kind of money down the back of the sofa, so a deal has been made where Midway gets until 19th February to pay half of it back. They're seeking a similar agreement on a further 6 per cent of Convertible Senior Notes, whatever they are.

Here's hoping something gets sorted out in time for the slated arrival of The Wheelman, Vin Diesel's pet project. It's due out on PC, PS3 and Xbox 360 on 16th February, and you can find out more over on the gamepage. Midway's other 2009 titles include GTA rival This is Vegas, also for all three platforms.

Picture of Ellie.

About Ellie Gibson

Since joining Eurogamer in the mid 2000s, Ellie has written about subjects as diverse as the fall of Gizmondo, the rise of Hollyoaks actresses in Red Alert games and the noise a bear makes under NSFW circumstances.

Read more articles from Ellie by visiting the Ellie Gibson archive page.

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